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Global Bio Leaders Explore Innovative Investment Strategies

for a Safe and Healthy Future

 

- World Bio Summit 2024 to be Held (November 11–12, 2024) -

 

The Ministry of Health and Welfare (MOHW, Minister Cho KyooHong) announced that the World Bio Summit 2024, themed “Future Investments for a Healthy and Secure Decade,” will be held in collaboration with the World Health Organization (WHO) on Monday, November 11, and Tuesday, November 12, at Songdo ConvensiA in Incheon.

 

The World Bio Summit, first convened in 2022 under the leadership of the Korean government and WHO, has become a global forum where bio-industry leaders from around the world—including ministers and vice-ministers of health, heads of international organizations, executives from vaccine and bio companies, and industry experts—gather to discuss key global agendas in the fields of vaccines and biotechnology. Now in its third year, the summit will cover recent trends and explore global cooperation in areas such as innovative R&D, resilient global supply chains, and workforce development following the COVID-19 pandemic.

 

The two-day summit will include an opening ceremony, Session 1 (Innovative Research and Development), a special session (Promoting Vaccination), and a welcome dinner on Day 1 (November 11), followed by Session 2 (Global Supply Chains), Session 3 (Workforce Development), and the closing ceremony on Day 2 (November 12). The summit will gather around 180 speakers and representatives from international organizations, businesses, and governments, alongside a range of side events and a business lounge.

 

In Session 1: "Innovative Research and Development," participants will share national approaches to high-risk, high-reward R&D for advancing healthcare innovation. Discussions will also focus on enhancing international cooperation for ambitious and innovative healthcare R&D.

 

Special Session: "Activation of Immunization" will explore strategies to improve vaccine accessibility and equity. This session will also address the importance of life-cycle immunization and strengthening national immunization programs.

 

Session 2: "Global Supply Chains," focused on building resilient global supply chains in the bio-industry, will cover current conditions in the global pharmaceutical supply chain and discuss government and corporate responses. It will also explore strategies for diversifying global partnerships to ensure a stable supply chain.

 

Session 3: "Capacity Building" will focus on global investments and collaborations to strengthen the capabilities of bio-sector professionals, particularly in vaccine manufacturing. Discussions will include current workforce development efforts in low- and middle-income countries to improve vaccine self-sufficiency and plans to increase international investment and cooperation.

 

During the event, five side events—including expert seminars and business meetings—will be held in collaboration with international organizations such as the Asian Development Bank (ADB), Unitaid, the International Vaccine Institute (IVI), RIGHT Foundation, and Health AI. Additionally, a Global Business Lounge will be available to facilitate collaboration between international organizations, global corporations, foreign health ministries, and Korean bio companies.

 

During the summit, 2nd Vice Minister of Health and Welfare Park MinSoo will hold a bilateral meetings with Saia Ma'u Piukala, Director of the Regional Office for the Western Pacific (WPRO), and Bounfeng Phoummalaysith, Laos's Minister of Health, on Day 1 (November 11). On Day 2 (November 12), he will meet with Duneton Philippe, Executive Director of Unitaid.

 

“World Bio Summit 2024 will be a pivotal opportunity to explore flexible and rapid responses to future health crises, drawing on lessons learned from the global experience of the COVID-19 pandemic,” said MOHW Minister Cho KyooHong. “The Korean government, in partnership with WHO, is committed to strengthening global cooperation for health security and leading international investments and innovations toward a healthier and safer future.” ///