BIO KOREA 2019 opened for a three-day run at COEX, southern Seoul, Wednesday, during which participants will exchange information and make business deals related to bio-industry, organizers said.

Prime Minister Lee Nak-yon (sixth from right) and other guests cut a ribbon to celebrate the opening of the BIO Korea 2019 at COEX, southern Seoul, on Wednesday.

The international convention is one of the most comprehensive events concerning biotechnology and healthcare areas held in Korea. Korea Health Industry Development Institute and North Chungcheong Province are co-organizing the event, with about 25,000 people from 50 countries participating in it.

Experts from a variety of business and government institutions delivered lectures on diverse topics, including biosimilar regulatory changes, technology innovation in genome editing, capital innovation, virtual biopharma, intellectual property, and digital healthcare.

A separate business forum showcased advanced technology developed by hundreds of companies, allowing them to exchange information, build strategic business relationships, and collaborate on multi-scale projects.

In particular, new programs such as the Bio Theater will be held this year to make it easier for the public to understand the importance of the health industry, and special lectures and company announcements will be broadcast live on the social network service.

The conference will also host a “Korea-Australia Health Industry Exchange Meeting” specially designed for exchanges and cooperation between Korea and the Australian healthcare industry.

Prime Minister Lee Nak-yon makes a speech to congratulate the opening of the BIO KOREA 2019 at COEX, southern Seoul, on Wednesday.

In a congratulatory speech, Prime Minister Lee Nak-yon said the Korean government is making every effort to promote bio and health industry, including pharmaceuticals, cosmetics, and medical devices, as the nation’s new growth engine.

“In the 21st century, aging and digitalization are combining to make the health business grow drastically,” Lee said. “Health care technology is the new growth engine of the economy and the leading field in the Fourth Industrial Revolution.”

The country’s goal of becoming an "inclusive state" will also contribute to the development of the healthcare industry, the prime minister added.

Lee also stressed that Korea aims to expand life-expectancy and eliminate inequality in health during his speech.

“By 2023, we will increase the average life expectancy to 75 years, and raise the health insurance coverage rate by 70 percent to achieve health industry development together,” Lee said. "While the development of the health industry is a blessing to humankind, it can also lead to inequality in health. The government and the health and medical community will have to pay close attention to this problem as well.”

Korea Health Industry Development Institute President Lee Young-chan said, “We hope that Bio Korea 2019, which has grown along with the Korean bio industry for the past 14 years, will provide the people in the health industry with opportunities for new business exchange and a foothold for growth.”

Opening hours are from 8:00 a.m. to 5:00 p.m. from Wednesday to Thursday and end early at 4:00 p.m. on Friday.

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