South Korea partners to boost health industry exports via global procurement

The Korea Health Industry Development Authority and the Public Procurement Service have signed a memorandum of understanding to support South Korean health industry companies in entering international public procurement markets. The partnership aims to facilitate the export of pharmaceuticals, vaccines, and medical devices by linking the agencies' expertise and global networks.

Key areas of cooperation include sharing information on international bidding and procurement demands, promoting innovative health products through overseas verification, and connecting companies with international organizations and foreign buyers.

Prior to the agreement, a market development mission consisting of 23 companies visited Bangkok, Thailand. The mission conducted 138 consultations with 53 Thai buyers, resulting in 15 MOUs valued at approximately $4.23 million. The delegation also met with regional offices of international organizations, including UNIDO, UNICEF, UNHCR, and UNDP, to discuss procurement procedures and product introductions.