Launch of Biohealth Industry Tariff Support Center
- Regdate2025-04-30 11:09
- Hit374
Launch of Biohealth Industry Tariff Support Center
- Operations Begin April 25 to Proactively Address U.S. Trade Policy Uncertainty -
The Ministry of Health and Welfare (MOHW, Minister Cho KyooHong) and the Korea Health Industry Development Institute (KHIDI, President Cha SoonDo) announced that the Biohealth Industry Tariff Support Center (hereinafter referred to as the “Support Center”) will officially launch on Friday, April 25, 2025.
The MOHW is establishing the Support Center to strengthen the competitiveness of Korean biohealth companies and mitigate potential impacts from U.S.-initiated tariff measures. This initiative is part of broader efforts to promote the sustainable growth of Korea’s biohealth industry amid a rapidly changing global trade environment and to provide practical support for companies expanding into overseas markets.
The Support Center will work closely with relevant government ministries, including the Ministry of Trade, Industry and Energy, the Ministry of SMEs and Startups, and the Ministry of Economy and Finance, as well as key organizations such as the Korea International Trade Association, the Korea Trade-Investment Promotion Agency (KOTRA, which operates the specialized consultation service "Tariff 119"), the Korea Trade Insurance Corporation, and the Export-Import Bank of Korea. Given the sector’s unique regulatory and clinical trial requirements, the Support Center will be housed within KHIDI, Korea’s specialized healthcare industry support agency.
Through this initiative, the government aims to proactively address external challenges such as export restrictions and tariff barriers, minimize damages to Korean companies, and strengthen Korea’s long-term trade risk management capabilities.
Biohealth companies facing export-related tariff issues can submit their inquiries and concerns via the Center’s official email (tariff@khidi.or.kr), by phone (☎043-713-8551), or through the KHIDI website (https://www.khidi.or.kr) to receive consultation and support.
Jung Eunyoung, Director-General for Health Industry Policy at the MOHW, stated, “With the ongoing uncertainty surrounding U.S. trade policy—the world’s largest market for the biohealth sector—Korean pharmaceutical, medical device, and cosmetics exporters are experiencing heightened anxiety and tension. Through the Support Center, we will actively engage with companies on the ground and coordinate a whole-of-government effort to minimize damages and deliver a swift, comprehensive response.” ///
[MOHW] Launch of Biohealth Industry Tariff Support Center.pdf