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Distinguished guests, ladies and gentlemen. Welcome to the 3rd Seoul International New Drug Forum. Co-hosted by first-class business daily The Financial News and Korea Research Institute of Chemical Technology, and sponsored by the Korean Ministry of Education, Science and Technology; Ministry of Knowledge Economy and Ministry of Health and Welfare, this forum under the theme “The Perspective of Biotech and Pharmaceutical Discovery and Innovation within the Next Decade” is held to discuss future strategies in global development of new innovative drugs. The Seoul forum has been a place of cooperation for the advancement of Korean pharmaceutical industry and to improve its competitiveness. An issue brought up during the first forum was selected as one of government’s major policy and has led to three government ministries having set up a joint new drug development support system. Also the Korean government has designated bio new drug as one of the country’s new growing industries and has promised investment and support. The development of new drugs is now not a choice but essential in surviving today’s pharmaceutical industry. Developing global new drugs is the only way for the future of Korean pharmaceutical market. Last year, the domestic industry developed a new drug for the fifteenth time overcoming the limited size and the rapidly changing environment. Korean new drugs are now aiming overseas and exports are now being realized. The pharmaceutical industry is a highly value-added one requiring excellent talents and core, essential technologies. As the population ages and new diseases increase, it is becoming more important than ever. It is time for the Korean pharmaceutical industry to show results from the many challenges and its hidden potentials. I wish during this forum that domestic pharmaceutical industry will be able to find strategies and plans to reach out to the world. Once again, I welcome you with a joyful heart and wish all participants a good health. Thank you very much. Seong C. Gweon The Financial News
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