Korean pharma seeks closer ties with Japan at Asia's largest biotech show

Korean biopharmaceutical companies are exploring opportunities at Bio Japan 2024 amid U.S.-China tensions, with major firms participating and a growing focus on collaboration between Korea and Japan.

Bio Japan 2024 runs Wednesday through Friday at Pacifico Yokohama Exhibition Hall in Yokohama, Japan, with some 1,480 organizations from 36 countries participating this year. [SHIN HA-NEE]

YOKOHAMA, Japan — Korean biopharmaceutical companies are scoping out new deals at Bio Japan 2024, Asia’s largest biopharmaceutical trade show, which kicked off its three-day journey on Wednesday amid growing U.S.-China tension in the biotech sector.

Firms including Samsung Biologics and Lotte Biologics are taking part in this year's fair, which runs through Friday at Pacifico Yokohama Exhibition Hall in Yokohama, south of Tokyo, in the heart of the world’s third-largest pharmaceutical market.

Aside from Japan, Korea and Taiwan are the two most prominent participants in the show, which began in 1986 and is the world’s longest-running biotechnology exhibition. About 1,480 organizations from 36 countries are taking part this year, with about one-third of the total participants coming from outside Japan, according to Japan Bioindustry Association (JBL), which hosts the annual event. A relatively small number of Chinese companies, including WuXi AppTec.

Samsung Biologics' partner booth at Bio Japan 2024 [SAMSUNG BIOLOGICS]

Samsung Biologics, a participant since 2022, is a potential beneficiary of the Biosecure Act that recently passed the U.S. House of Representatives, which aims to prevent U.S. government-funded medical providers from doing business with Chinese companies such as WuXi AppTec and WuXi Biologics.

Korean biotech players have certainly been expanding their presence at Bio Japan, Yoshiaki Tsukamoto, executive director of JBL, told press during the exhibition on Wednesday.

“JBL has a lot of collaboration going on with Korea,” Tsukamoto said.

Japan Bioindustry Association Executive Director Yoshiaki Tsukamoto, center, speaks during a press meeting on the sidelines of Bio Japan 2024 in Yokohama on Wednesday. [SHIN HA-NEE]

Tsukamoto Korea's fast and talented work force as its key strengths, emphasizing that many of the country's citizens “have abundant experience studying overseas, such as in the United States, which leads to new innovations.”

The executive director suggested that the Biosecure Act could create new business opportunities for Japan if companies take a strategic approach, though he noted that the situation remains unpredictable.

JBL and Korea Biotechnology Industry Organization signed a memorandum of understanding regarding “mutual and communication and partnership” at last year's Bio Japan. The two nations have been making efforts to strengthen their relationship in the biotech sector since last year after a historic series of meetings between President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida.

BY SHIN HA-NEE [shin.hanee@joongang.co.kr]