Korea Trade-Investment Promotion Agency (KOTRA) Jakarta, the commercial section of the Embassy of the Republic of Korea in Indonesia organized a 2-day Indonesia-Korea Medical Roadshow 2024 from September 11-12 in Jakarta. The event was a significant platform aimed at fostering collaboration between the two countries in the fields of medical equipment and pharmaceuticals. This event featured a forum to provide valuable insights for business players from both nations and B2B matchmaking sessions where Korean companies would meet with potential Indonesian counterparts.
The Indonesia-Korea Medical Roadshow 2024 aimed to promote collaboration, knowledge transfer, and technological advancements in medical devices & pharmaceuticals industries and contribute to global health improvements. By combining informative seminars with productive B2B meetings, the Indonesia-Korea Medical Roadshow 2024 offered a dynamic platform for knowledge sharing, networking, and business growth.
The event has two key activities: seminar and B2B meeting. The first one provided the participants with valuable knowledge from the medical industry players & government through engaging presentations and panel discussions highlighting the landscape and understanding of the pharmaceutical & medical device industry, and also understanding of Indonesia government pharmaceuticals and medical device regulatory system. The business to business meeting gave the opportunity to discover innovative medical devices, pharmaceuticals, and medical services from leading Korean companies, foster collaborations and explore business opportunities with potential partners with a direct one-on-one business matching.
During the roadshow, the Ministry of Trade, Industry, and Energy (Korea), the Ministry of Food and Drug Safety (MFDS), Korea Trade-Investment Promotion Agency (KOTRA), the Embassy of the Republic of Korea, Korea Pharmaceutical and Bio-Pharma Manufacturers Association (KPBMA), and Korea Health Industry Development Institute (KHIDI) to collaborate with the Ministry of Health (Indonesia), BPOM (Indonesia) to promote the healthcare industry between the two nations.
Around 200 government officials and business leaders from Indonesia and Korea attended the 6th annual 'Indonesia-Korea Medical Roadshow', including key figures from the Embasy of the Republic of Korea in Indonesia, the Ministry of Health of the Republic of Indonesia, and the Ministry of Food and Drug Safety (BPOM), showing great interest in cooperation between the two countries' biomedical industries.
The aging population, the prevalence of intractable diseases, ect. have increased demand for treatment and pharmaceuticals. In order to improve the healthcare industry in Indonesia, the Ministry of Food and Drug Safety and the Korea Pharmaceutical and Bio-Pharmaceutical Association colaborated with the BPOM of Indonesia and the Ministry of Health to hold a forum to provide pharmaceutical industry trends and regulatory systems of both countries, and explore ways to cooperate by introducing the latest Korean biopharmaceutical technology to Indonesia.
During the event, 33 companies including biopharmaceuticals and digital healthcare expected to have 1:1 consultations with 70 promising Indonesian businesses. 14 major Korean pharmaceutical companies and 19 medical device companies equipped with cutting-edge technologies in imaging diagnosis, skin care, in vitro diagnosis, and digital healthcare participated to seek business opportunities with over 70 businesses from Indonesia.
One of the participating companies from Korea, a manufacturer of chronic disease treatment products such as hypertension, said, "With a population of 280 milion, Indonesia's medical market is showing remarkable growth due to the increase in national income, and in particular, 'the medical device and pharmaceutical markets are expected to grow by an average of 4.6% and 6.4% respectively per year for the next five years starting in 2023," and explained the purpose of participating in the event, saying, "As the Indonesian government is making efforts to vitalize the medical industry, we have set Indonesia as our main market."
In his opening remarks, Chargé d'Affaires ad interim Soo-deok Park of the Embassy of the Republic of Korea in Indonesia said, I"believe that now is the time for the Indonesian government's will to improve the healthcare service system and Korea's excellent medical technology to meet and create a real synergy, and emphasized, "Through the ever-expanding healthcare cooperation between the two countries, we wil be able to improve the lives of the people in both countries and achieve mutual growth."
Additionally, the Executive Vice President of the Innovative Growth of KOTRA, Oi Young Jeong said, "I hope this event serves as the platform to better understand the trends of the Indonesian medical market, and lay the foundation for Korean companies to successfuly entering the Indonesian," and added, "KOTRA will expand its promotion programs in the bio-medical industry and continue supporting the Korean companies' drive in expanding into the global market."
