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S. Korean delegation sent to Latin America to promote health care industry

All Headlines 15:17 April 17, 2018

SEOUL, April 17 (Yonhap) -- A semiofficial South Korean delegation left for Latin America on Tuesday to promote health care companies' inroads into the region's market, the foreign ministry said.

The 34-member delegation will visit Brazil, Colombia and Mexico, as well as the Inter-American Development Bank (IDB), an international development organization with the membership of 48 countries in the region, from April 17-29, according to the Ministry of Foreign Affairs.

The delegation is composed of 34 government officials and businessmen from the medicine and medical device industries.

In the host countries, the delegation will meet with government officials and host local events to draw attention to the South Korean health care industry and call for the local governments' support for Korean firms' entrance into their markets, the ministry said.

During their meetings with the health ministries of Brazil and Colombia, in particular, the delegation plans to appeal for government support for approving imports of Korean drugs and medical devices. With a market value of about US$19.9 billion, Brazil commands the biggest market for medicine in Central and South America, according to the ministry.

With the IDB, the delegation plans to discuss joint projects, the first cooperative project with the regional development organization since South Korea joined it in 2005. This would further enhance Korean companies' chances to make inroads into the Central and South America's health care industry, worth about $55 billion, the ministry added.

pbr@yna.co.kr
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