Regulator to aid Korean firms’ international biz via global cooperation

Regulator to aid Korean firms’ international biz via global cooperation

This year the Ministry of Food and Drug Safety will urge for making use of AI and big data, developing an official channel to more finely connect with the industry, and solidifying global cooperation and trade.

The ministry stated how it would look for cooperation with regulators based in other nations to aid Koran firms in entering the international market.

The director-general of the ministry’s Pharmaceutical Safety Bureau, Kim Young-ok stated how the pharmaceutical industry went through numerous turbulences the previous year, however, the govt. publicized some productive outcomes in generating opportunities for patients with uncommon and contagious ailments as well as the underprivileged.

He added that the ministry began providing clinical trial data via an integrated drug data website to aid patients with uncommon and contagious ailments and the marginalized are given data regarding the most recent treatments.

Kim Young-ok stated that operating clinical trials is a double-edged sword since the govt. needs to manage the drugs’ safety and also speed up the entry of novel drugs simultaneously.

He said that keeping this in mind, hey constructed a 5-year plan the previous year. He said that this year will be the first one to aid firms and patients alike to reap the advantages of a recently constructed information site.

He said that in 2020 the food and drug ministry will make use of Artificial Intelligence and big data in politics.

Kim stated that there are ample data in the pharmaceutical sector and that they are looking for ways to utilize them in their policies. According to him, the ministry was also on a lookout as to how they could motivate the public and start-ups to make use of such information.

The ministry also reinforced internal and external communication as their second priority of the year.