The Ministry of Trade, Industry and Energy (MOTIE) announced on October 12 that it will be hosting the Global Bio & Pharma Plaza 2022 (GBPP 2022) at Lotte Hotel World in Seoul together with the Korea Trade-Investment Promotion Agency (KOTRA) and Korea Pharmaceutical Traders Association on October 12-13.
Approximately 80 buyers will be participating from 21 countries, including the U.S., India, Thailand, Indonesia and Brazil, for the trade fair and market strategy briefing sessions.
South Korea has maintained its position as a reliable supplier throughout the pandemic, winning the interest and credibility of overseas buyers. GBPP 2022 is expected to further this momentum in diversifying the export markets of domestic pharmaceutical and bio companies’ products and in penetrating the global supply chain.
The keynote speech and overseas marketing session slated for October 12 will be given by speakers from Pfizer, Illumina (globally renowned DNA analytics firm), Indonesia’s Healthcare Ministry, and Zydus (India’s large pharmaceutical company) to provide the latest information on market entrance into countries like the U.S., Europe, Indonesia, Brazil, Peru, India and Pakistan.
The following day (October 13) will be filled with 80 overseas buyers and 85 Korean companies for 1:1 business consultation, amounting to an estimated 700 trade consultation exchanges for potential business deals.
Many companies participating in the event faced challenges over the past two years due to the COVID-19 pandemic in penetrating new overseas export routes and GBPP 2022 is a timely opportunity for meeting various countries’ buyers. Through this event, it is also anticipated that attempts to enter Southeast Asian and Latin American markets will see fruition in the near future.