Kiwoom Securities Hosts Bio and Healthcare Meeting with Saudi Food and Drug Authority Chief

[Financial News] Kiwoom Securities said on the 4th that it had held a “Korea-Saudi Arabia Meeting” at its headquarters in TP Tower, Yeouido, Seoul, on the 3rd, inviting the head of the Saudi Food and Drug Authority (SFDA).
The meeting was organized to discuss cooperation between the two countries in the bio and healthcare industries and ways for South Korean companies to enter the Saudi market.
The event was attended by Hisham Aljadhey, head of the SFDA; Saeed Almadani, commercial attaché at the Saudi Arabian Embassy in South Korea; and representatives of South Korean companies. The SFDA is a Saudi government agency that plays a role similar to that of South Korea’s Ministry of Food and Drug Safety.
Participants reviewed examples of cooperation between the two countries, the SFDA’s regulatory framework and relevant requirements, and held a Q&A session on South Korean companies’ entry into the Saudi market.
Heo Hye-min, a researcher at Kiwoom Securities’ Research Center, introduced the domestic bio industry’s landscape and outlook, as well as Saudi Arabia’s bio strategy. Researcher Shin Min-su discussed trends in the medical device industry and opportunities to enter the Middle East market.
A Kiwoom Securities official explained, “Through this event, South Korean bio and healthcare companies were able to understand Saudi Arabia’s regulatory environment and the direction of its efforts to foster the industry.”


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