The Weekly Update (6)

July 2018

Global pharma firm leaders laud Korea’s clinical trial development
Logistics Industrial Seminar on Supply Chain Management Enabling Technologies
Modernization of EU-Korea FTA Required to Secure Future Trade
ECCK input discussed in EU-Korea IP Dialogue
ECCK M&S Committee Chairman speaks at the Ballast Water Management Forum
New Vice-Chairman for ECCK Healthcare Committee
ECCK Quarterly Report Q2/2018 published
AD Opportunity! ECCK Magazine: Autumn 2018
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Global pharma firm leaders laud Korea’s clinical trial development

*The following is the excerpt from the article published on July 24 in The Korea Herald from the round table meeting held earlier this month co-organized by the ECCK and The Korea Herald & The Investor. To read the full article, please click here.
Global pharma firm leaders laud Korea’s clinical trial development

South Korea has high potential to become a major part of the global biopharma business ecosystem with its openness for collaboration and swift clinical trial process, according to executives of major multinational pharma firms operating in Korea.

A series of multimillion-won license deals with US and European companies for biologic drugs developed by Korean companies have put the industry in the spotlight in recent years as drugmakers seek to go beyond producing generic drugs and eye bigger markets.

But what attracted foreign pharma business leaders’ attention in Korea’s health care market was not just biosimilars produced by Celltrion and Samsung Bioepis. They said it has one of the world’s strongest clinical development programs, and foreign pharma firms appreciate the quality and speed of clinical trials conducted here.

There are some hurdles, of course, such as the heavy red tape that all industries, and not just the pharmaceutical sector is subject to. This is an issue that the Korean government will have to solve in the long run, according to industry watchers who believe there is more room for relaxing regulations to make the country more investment and investor-friendly.

Despite some of the drawbacks, the three executives at the discussion saw more opportunities opening up for Korea, and for their home countries as well. And these opportunities in turn spell a better and healthier future for all global stakeholders, in particular, the people who actually benefit from the medications that become more widely available, they noted.

Logistics Industrial Seminar on Supply Chain Management Enabling Technologies

On July 24, the ECCK Logistics & Transport Committee held a logistics industrial seminar at the Seoul Square building. Under the theme of ‘Enabling technologies for supply chain traceability and information sharing: IoT, Big Data and Blockchain’, the day’s seminar welcomed a guest speaker, Dr Taesu Cheong who is a professor of School of Industrial Management Engineering at Korea University. Dr Cheong discussed on how new technologies are enabling greater traceability and visibility across supply chains and reshaping business models into more collaborative operating ones in the era of Industry 4.0.

Followed by was a Q&A session in which the participants engaged in an open-discussion on the topics raised during the seminar and shared real-world examples.
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Modernization of EU-Korea FTA Required to Secure Future Trade

On July 1 this year, the EU-Korea Free Trade Agreement (“FTA”) celebrated its seventh anniversary. As a result of the various provisions of this FTA, which was ‘state-of-the-art’ at the time of its provisional application, trade in goods in 2017 has grown to EUR 100 billion and EU FDI in Korea grew by 140% from 2010 to EUR 5.5 billion in 2017.

Since the conclusion of the final text of the FTA, there have been various developments that have had a certain impact on the way trade is being conducted and with the commencement of the fourth industrial revolution many further developments are to be expected. This means that while the text of the FTA was indeed ‘state-of-the-art’ at the time it was agreed upon, this is not necessarily the case anymore. Certain aspects of the FTA are in fact presenting hurdles to trade, contrary to the purpose of the FTA.

The aforementioned obsolesce of certain parts of the FTA, combined with the expansion of free trade by both the EU and Korea means that in order to safeguard EU-Korea trade there is a need for modernization of the FTA. While it would be a fundamental benefit for modernizations to be discussed and implemented on a continuous basis, the current situation has placed a certain urgency on such modernization.

Based on the above we are convinced this is the right moment to modernize the FTA and would highly appreciate respective initiatives towards this direction. This is why ECCK has encouraged the European Commissioner for Trade Cecilia Malmstrom and Korean Trade Minister Hyun-chong Kim to secure a positive outcome by letter of June 7.

ECCK input discussed in EU-Korea IP Dialogue

The official agreed minutes from the sixth annual EU-Korea Intellectual Property (IP) Dialogue was released on July 6. As provided for in the EU-Korea FTA, this year’s IP Dialogue took place on May 29 where the European Commission and Korean officials met to discuss on the recent IP legislative and policy developments from each party.

The ECCK, its Intellectual Property Rights (IPR) Committee in particular, has been in close contact with the European Commission in describing the IP environment in Korea and consistently raises issues pertinent to European businesses. It is in that regard that the ECCK is pleased to note that a number of topics we raised have been thoroughly discussed between both parties during the IP Dialogue.

To see the official minutes from the meeting, please CLICK HERE.

ECCK M&S Committee Chairman speaks at the Ballast Water Management Forum

On June 28, Mr Alfonso Cebollero, Marine & Shipbuilding Committee Chairman at the ECCK and North Asia Chief Regional Officer at SENER, spoke at the International Ballast Water Management Forum, organized by the Ministry of Oceans and Fisheries (MOF) together with the International Maritime Organization (IMO) at the Hilton Busan.

Entitled as ‘Challenges and Tasks for Soft Landing of the Ballast Water Management Convention (BWMC)’, the day’s forum was to provide information on the significance of managing the Ballast Water Management across the world and to share challenges and tasks for such implementation. Among the renowned speakers was Mr Cebollero who spoke about how BWMC is being implemented in Europe.
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New Vice-Chairman for ECCK Healthcare Committee

ECCK is pleased to announce that Dr. Uloff Muenster, General Manager of Merck Biopharma Korea, has been appointed as Vice-Chairman of the ECCK Healthcare Committee to serve a two-year term. We would like to sincerely congratulate Dr. Muenster and are looking forward to his leadership for the Committee.

ECCK Quarterly Report Q2/2018 published

It is with great pleasure that ECCK hereby shares with you our second Quarterly Report. As true European advocacy organization, we have included information about EU and EFTA countries’ trade (Q1 2018) and investment (Q1 + Q2 2018).

The purpose of the report is to provide a succinct overview of the most pertinent developments for European industry in Korea. Further editions of the quarterly report are scheduled for publication each second working week of a new quarter. To read the report, please CLICK HERE.

AD Opportunity! ECCK Magazine: Autumn 2018

The ECCK is thrilled to announce that the ad reservation is now available for our quarterly magazine – ECCK Connect Autumn 2018. This is a great chance for you to reach out to our influential audiences of businessmen and officials in Korea.

The reservation will be accepted on a first-come, first-served basis by August 17, 2018. For more details about the location and prices, please CLICK HERE.

Members & Partners


[Médecins Sans Frontières (MSF) Korea] Head of Finance and Admin

Department: Finance and Administration Unit
Job Position: Head of Finance and Administration

Application deadline is August 10, 2018. Please click here for more details.

[DHL] Trade Lane Specialist for Europe

Department: Marketing & Sales
Job Position: Trade Lane Specialist for Europe

Application deadline is July 29, 2018. For more details, please click here.

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