The Korea Trade and Investment Promotion Agency (KOTRA) in Jakarta, the business department of the Embassy of the Republic of Korea in Indonesia, organized the two-day Indonesia-Korea Medical Roadshow 2024 in Jakarta on September 11-12. The event provided a big platform to advertise cooperation between the 2 countries in the sphere medical equipment and pharmaceuticals. The event included a forum where business players from each countries could gain invaluable information, in addition to B2B matchmaking sessions where Korean firms met with potential Indonesian counterparts.
The Indonesia-Korea Medical Roadshow 2024 aimed to advertise cooperation, knowledge transfer and technological progress within the medical device and pharmaceutical industry and contribute to the advance of health all over the world. Combining informative seminars with productive B2B meetings, the Indonesia-Korea Medical Roadshow 2024 offered a dynamic platform for knowledge sharing, networking and business development.
The event consists of two key activities: a seminar and a B2B meeting. The former provided participants with invaluable knowledge from healthcare industry and government stakeholders through engaging presentations and panel discussions highlighting the landscape and understanding of the pharmaceutical and medical device industry, in addition to the Indonesian government’s understanding of the pharmaceutical and medical device regulatory system. The business meeting provided the chance to find revolutionary medical devices, pharmaceuticals and medical services from leading Korean firms, strengthen cooperation and explore business opportunities with potential partners through 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), the Korea Trade and Investment Promotion Agency (KOTRA), the Embassy of the Republic of Korea, the Korea Pharmaceutical and Bio-Drug Manufacturers Association (KPBMA) and the Korea Development Institute Health Industry (KHIDI) to cooperate with the Ministry of Health (Indonesia), BPOM (Indonesia) to advertise the health care industry between each nations.
About 200 government officials and business leaders from Indonesia and Korea participated within the sixth annual “Indonesia-Korea Medical Roadshow”, including key figures from the Embassy 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 biomedical industries of each countries.
The aging of society, the occurrence of incurable diseases, etc. have increased the demand for treatment and pharmaceuticals. To improve the healthcare industry in Indonesia, the Ministry of Food and Drug Safety and the Korean Pharmaceutical and Biopharmaceutical Association cooperated with BPOM Indonesia and the Ministry of Health to arrange a forum to present the pharmaceutical industry trends and regulatory systems of each countries, and explore ways to cooperate by introducing the most recent technology to Indonesia Korean biopharmaceutical technology.
During the event, 33 firms, including biopharmaceuticals and digital health, expected one-on-one consultations with 70 promising Indonesian firms. 14 major Korean pharmaceutical firms and 19 medical device manufacturers with cutting-edge technologies in diagnostic imaging, skincare, in vitro diagnostics and digital healthcare participated within the seek for business opportunities with over 70 Indonesian firms.
One of the participating firms from Korea, a manufacturer of products for the treatment of chronic diseases comparable to hypertension, stated: “With a population of 280 million, the Indonesian medical market is showing remarkable growth attributable to the rise in national income, and specifically, “the markets for medical devices and pharmaceuticals will grow at a mean of 4.6% and 6.4% per yr, respectively, over the following five years, starting in 2023.” and explained the aim of participating on this event by saying, “As the Indonesian government makes efforts to revitalize the healthcare industry, we have now considered Indonesia as our fundamental 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 imagine that now’s the time for the Government of Indonesia to specific its will to enhance the healthcare system and the superb quality of medical services of Korea technology to fulfill and create true synergy, and stressed: “Through the ever-expanding healthcare cooperation between the 2 countries, we are going to have the opportunity to enhance the lives of individuals in each countries and achieve mutual development.”
Additionally, KOTRA’s Executive Vice President of Innovative Development Oi Young Jeong said, “I hope this event will function a platform to raised understand the trends within the Indonesian medical market and lay the muse for Korean firms to successfully enter the Indonesian market.” and added: “KOTRA will expand its promotional programs within the biomedical industry and proceed to support the efforts of Korean firms to expand into the worldwide market.”
