The Ministry of Food and Drug Safety (MFDS) has formed a Pharmaceutical Bio ONE Team with government agencies, public institutions, and industry players to target the Thai market.

This initiative aims to boost regulatory cooperation and industry exchanges in Thailand, the third-largest pharmaceutical market in the Association of Southeast Asian Nations (ASEAN), supporting Korean pharmaceutical and biotech companies in their export efforts and local market entry.

The MFDS announced on Wednesday that it co-hosted a Korea-Thailand Pharmaceutical Forum in Bangkok on Monday, alongside the Korea Pharmaceutical and Bio-Pharma Manufacturers Association and the Korea Trade-Investment Promotion Agency (KOTRA).

This forum is part of the MFDS's public-private joint support project for pharmaceutical companies. The goal is to establish collaboration channels with Thai regulatory authorities and industry players, facilitating Korean companies' entry into the Thai market.

Following previous missions to Vietnam (2023), Indonesia (2024, 2026), and Japan (2025), the MFDS dispatched a public-private joint support team to Thailand this year. Thailand is recognized for its significant growth potential and high demand from Korean companies, given its status as the third-largest pharmaceutical market in ASEAN.

The forum attracted about 120 representatives from regulatory agencies, government bodies, and industry players from both countries. Discussions centered on trends in the pharmaceutical and biotech industries, as well as strategies for research, development, and investment collaboration.

The MFDS and the Thai Food and Drug Administration (FDA) shared insights on drug approval systems and trends in international regulatory harmonization. Industry participants presented their experiences and the latest technological developments in entering the Thai market.

The MFDS also held separate talks with high-ranking officials from Thailand's Ministry of Public Health and the Thai FDA. They explored ways to expand cooperation on drug approval processes and support Korean companies' market entry. Specifically, they requested information exchange regarding Thailand's regulatory reliance system and recognition procedures for reference institutions. It also proposed collaboration to enhance regulatory professionals' capabilities, drawing on their experience with the World Health Organization's (WHO) list of exemplary regulatory authorities.

Thailand's regulatory reliance system allows for the use of assessment results from foreign regulatory agencies in the approval process, potentially streamlining procedures and shortening market entry times.

Additionally, the MFDS organized pre-meetings with Korean pharmaceutical companies planning to enter Thailand. They listened to regulatory challenges faced during approval and registration processes and requested relevant information and support from the Thai FDA.

On Tuesday, in conjunction with the Korea Trade-Investment Promotion Agency's (KOTRA) Korea-Thailand Biohealth Partnership, one-on-one business consultations took place between Korean companies and local Thai businesses and buyers. Participating companies explored specific business opportunities in areas such as export, distribution, and technology collaboration.

Ahn Young-jin, Director of the MFDS's Biopharmaceuticals and Herbal Medicine Bureau, stated that it will support both government and industry in identifying regulatory challenges on the ground and addressing these issues through cooperation with Thai regulatory authorities. The goal is to expand opportunities for Korean companies in the Thai market.

The Ministry of Food and Drug Safety (MFDS) has formed a Pharmaceutical Bio ONE Team with …

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