According to the Korea Pharmaceutical and Bio-Pharma Association and others, the “5th Amendment to the Fair Trade Code and Detailed Operational Standards for Pharmaceutical Transactions” took effect on the 1st of this month. This code is a self-regulatory standard established by the pharmaceutical, biotech, and related industries to prevent the provision of improper monetary gifts or hospitality and to establish a fair market order; it is operated with the approval of the Fair Trade Commission. The association explained, “We have revised the relevant regulations in line with the current trend toward emphasizing transaction transparency across the entire industry.”
Under the revised code, corporate sponsorship and participation in medical and pharmaceutical academic conferences are limited to events that include an educational program lasting at least three hours and award at least three continuing education credits. The number of participants must be at least 50, except for conferences in the field of rare diseases (25 or more participants).
Upper limits have also been set on exhibition and trade show booth fees—which companies may use for up to two booths—depending on the host organization. For academic conferences hosted by academic societies or research institutions, the fee per booth is capped at 3 million won, while for events hosted by healthcare facilities, the cap is 1 million won. The only promotional items companies are allowed to provide are pens and notebooks costing no more than 10,000 won each; if a company provides cash sponsorship in the form of a donation, additional benefits—including participation in exhibitions and trade shows, advertising, and food and beverages—are prohibited.
Regulations restricting corporate sponsorship and participation in academic conferences held at tourist and resort destinations will be temporarily relaxed starting next July. This measure was implemented in response to the reduced number of available venues due to the long-term renovation of COEX, a popular venue for academic conferences. Consequently, the ban on holding such events at the Jeju International Convention Center (ICC Jeju) and the Fairmont Ambassador Seoul will be lifted until the end of December 2028, when the renovation is scheduled to be completed.
In accordance with the self-regulatory code of the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), the Korea Global Pharmaceutical Industry Association has prohibited corporate sponsorship and participation in academic conferences held in tourist and resort destinations—such as Jeju Island—or at luxury hotels and resorts that give the impression of being “renowned” or “extravagant.”
