AMCHAM Calls for Predictable Healthcare Policy Action in Korea

17th Innovation Seminar Focuses on Pricing Reform, Vaccine Ecosystem, and AI Healthcare

By Editor Lee Kwang-soo, BusinessKorea - The American Chamber of Commerce in Korea (AMCHAM) hosted its 17th Healthcare Innovation Seminar at Hotel Shilla Seoul on Sept. 3, bringing together approximately 150 senior government officials, business leaders, and healthcare experts from South Korea and the United States to advance practical dialogue on the future of healthcare innovation and policy.

Under the theme "From Reform to Execution: Building a Predictable Healthcare Innovation Ecosystem," the seminar examined how South Korea can translate healthcare reform into meaningful outcomes for patients, innovation, and investment. Against the backdrop of ongoing bilateral discussions on regulatory competitiveness and non-tariff barriers, participants emphasized predictable policy implementation, greater alignment with global standards, and an innovation-friendly regulatory environment to strengthen the nation's appeal as a destination for global healthcare investment.

The agenda centered on three core policy priorities: successfully implementing the Ministry of Health and Welfare's pharmaceutical pricing reforms announced in late 2025; strengthening Korea's vaccine ecosystem; and establishing effective policy pathways for AI-enabled healthcare and precision medicine. Across all sessions, attendees explored policy refinements and public-private collaboration needed to expand patient access, recognize the value of innovation, accelerate the adoption of advanced medical technologies, and strengthen Korea's long-term healthcare competitiveness.

"Korea has made meaningful progress on healthcare reform. The priority now is to translate that progress into tangible results through implementation that is predictable and transparent, expands patient access, and supports continued innovation," said AMCHAM Chairman & CEO James Kim. He noted that pricing reform, vaccines, and AI will play a central role in shaping the future of healthcare, adding that sustained government-industry dialogue and U.S.-Korea collaboration will allow both countries to create new opportunities together.

Key government and legislative leaders voiced strong support for deepening cross-border cooperation. Lee Man Hee, Chair of the National Assembly’s Health and Welfare Committee, emphasized via video message that policies must evolve alongside medical breakthroughs, stating that cross-border collaboration is essential to achieve tangible results. Kang Cheong Hee, President of the National Health Insurance Service, outlined plans to build a more innovative national health insurance system leveraging AI and data. In written remarks, Second Vice Minister of Health and Welfare Lee Hyung-hoon highlighted government efforts to shorten reimbursement listing timelines for rare disease treatments and align regulations with global standards. James Heller, Deputy Chief of Mission at the U.S. Embassy in Seoul, also underscored the vital role of U.S.-Korea partnership in strengthening health security.

The seminar’s three panel sessions addressed actionable steps across the priority sectors:

Pharmaceutical Pricing Reform: Discussions focused on implementing the late-2025 pricing reforms to balance patient access, value recognition for innovative medicines, and healthcare financing sustainability. Keynote presenter Cho Won Jun (Democratic Party of Korea) joined panelists including Kang Joonhyuk (Ministry of Health and Welfare), Christian Rodseth (Johnson & Johnson), and Hye Young Lee (BMS Korea). Lee noted that swift implementation and expanding successful initiatives across therapeutic areas could yield visible outcomes within two to three years.

Vaccine Ecosystem and Prevention: Panelists examined shifts toward a life-course immunization framework to address rapid demographic aging and public health challenges. Jung Tong Ryoung (KDCA) discussed legislative reforms to the national immunization program, while Chan-Woo Song (Pfizer Korea) and Professor Kevin Kee-jong Hong (Gachon University) emphasized the expanding potential of mRNA technology and the need to connect global collaboration with domestic R&D.

AI-Enabled Healthcare and Precision Medicine: Experts examined policy pathways to integrate cutting-edge diagnostics and digital tools into clinical practice. Chris Thiem (BMS APAC) discussed AI as a transformation catalyst, while Divya D. Mehta (Guardant Health AMEA) advocated for a flexible regulatory environment that accommodates technological innovation from overseas testing laboratories. Michael Titus (Eversight) praised AMCHAM’s role in bridging government and private sector leaders to establish Korea as a dominant force in global healthcare innovation.

Participants concluded that transparent policy execution, international regulatory harmony, and robust public-private engagement are essential foundations for sustainable growth across Korea’s healthcare sector.

Source: https://www.businesskorea.co.kr/news/articleView.html?idxno=276148