KOTRA celebrates ‘60th anniversary of Korea-Switzerland diplomatic relations’ and strengthens pharmaceutical and biotechnology cooperation

On the occasion of the 60th anniversary of Korea-Switzerland diplomatic relations, KOTRA held Korea-Switzerland Pharma & Biotechnology Partnership Forum on May 16 at Marriott Hotel Zurich, Switzerland, and strengthened pharmaceutical and biotechnology cooperation. Switzerland, a leading high-tech country, has a high-tech bio-industry ecosystem consisting of more than 700 global pharmaceutical companies and 200 research institutes. Thanks to this industrial infrastructure, pharmaceutical exports account for more than 30% of Switzerland’s total exports, leading the country’s economy. At the forum, ﹦Pharmaceutical-Bio Partnership ﹦Global Big Pharma Pinpoint Consultation ﹦Medical Bio Global M&A Support Project were discussed. Rene Buholzer, President of the Swiss Society of Pharmaceuticals and Biotechnology (Interpharma), introduced the success factors of the Swiss biotechnology industry and presented ideas for the direction of entering Switzerland for Korean companies wishing to cooperate with Swiss pharmaceutical companies. Roche, a leading Swiss pharmaceutical company, and about 10 Korean companies participated in the heated offline consultation, and video consultation will continue for a month afterwards. In 2022, not only did the volume of trade between the two countries record the highest ever, but as of the first quarter of this year, exports are soaring by more than 58%, mainly automobiles and pharmaceuticals. Accordingly, KOTRA plans to support the expansion of Swiss exports and technical cooperation in the pharmaceutical and biotechnology sectors, which have many growth potential.

KOTRA forms a consortium of ICT companies to penetrate overseas markets

On May 19, the Ministry of Science and ICT, and KOTRA held the launch ceremony of the ‘2023 ICT Consortium Export Support Project’. The participants of the event are 35 domestic ICT companies that will receive support this year, and they signed a business agreement and shared examples of the consortium’s overseas expansion. The project uses the KOTRA Overseas Trade Center to support domestic companies’ order acquisition activities throughout the year, such as market research, local marketing, and business contact with clients. Last year, the trade center signed two projects (worth $22 million) and signed 14 memorandums of understanding ($12 million) in seven countries. This year, out of 37 application projects, a total of 15 consortia were selected in the fields of intelligent factories, 5G, and smart airports. As the business performance became known to the industry, 85 domestic companies applied, 66 more than last year.