Aiming to boost bilateral trade and to explore investment opportunities in pharmaceutical and bio-technology sectors, a high level Korean business delegation of big pharmaceutical companies will be visiting India which will focus on forging business alliance with Indian firms.
A delegation of 13 Korean companies are visiting India in search of Indian firms for joint venture, collaboration, technology transfer, importers, buyers, principal agents etc, with the support of KOTRA (Korea Trade-Investment Promotion Agency), India Trade Offices of the Korean Embassy at Mumbai. The companies are also looking for Indian partners who would like to import raw materials from Korea.
The India-ASEAN Bio Road Show, to be conducted at Chennai on September 4, will have delegation from world-class pharmaceutical companies in Korea including Korea United Pharm Inc, Bioland Ltd, Dasan Medichem Co Ltd, Hwail Pharm Co Ltd, Ildong Pharmaceutical Co Ltd, etc.
"The main objective of this mission is to explore bilateral trade and investment prospects in pharmaceutical and bio-technology sectors", said Sang-Kon Han, Director-General, KOTRA, Mumbai. According to data compiled in 2006, the estimated value of the total pharmaceutical market in South Korea alone would be USD 15.2 billion in 2006, which is expected to rise to USD 21.2 billion by 2011.
The Korean companies will be having one-to-one trade meeting with senior representatives of Indian leading pharmaceutical and bio-technology companies for trade and business alliance along with talks to appoint principal agents for the Korean products.
The Korean companies in the delegation are dealing in various ranges of products like anti-inflammatory, bacterial culture products, API's, rapid diagnostic kit for dengue, syphilis, cancer, HIV, pregnancy, malaria, distoma, hepatitis, gastrointestinal, skin and mucous membrane, probiotics, healthcare supplements, health foods, New Drug Delivery systems, agents for renal disease, DDS technology, dried compressed pharmaceutical etc.
The products offered by these companies also include simethicone powder, ginseng - herbal products, medicine/drug for bone metabolism, blood related agent, vitamins & minerals, pharmaceuticals raw materials, diagnostic one-step kit based on the immuno-chromatographic, herbal products, external uses (creams, ointments, solutions), OTC products, vaccines, enzyme production, anti cancer drugs, beauty and home care products, micro-encapsulation, amino acids infusions, substitution fluid and nutrition injections, K-DMF products etc.
KOTRA, considered as a gateway to do trade and investment with Korea, is a non-profit trade promotional agency run by Korean government to provide a fully supportive trade-investment infrastructure. KOTRA, Mumbai Trade Office of Korean Embassy provides free assistance to Indian companies looking for trade partners from Korea and also promotes investment in Korea. KOTRA facilitates exchange of trade related information between both countries. The agency also provides access to the Korean market through its websites www.buykorea.org and www.investkorea.org, according to the KOTRA sources.