Singapore, June 4 -- The Ministry of Food and Drug Safety (MFDS) in South Korea has established the "Medical Product Approval and Review Innovation Plan" to expand medical treatment opportunities for citizens through the expedited approval and review of new drugs, biosimilars, and innovative medical devices, and will implement it immediately.

This innovation plan aims to expand patient treatment opportunities and support K-Bio's global leap by rapidly launching safe treatments within a target timeframe of 240 days.

Efforts will be made to shorten the approval period by shifting to a simultaneous and parallel review system through the hiring of 195 new approval and review personnel, and by conducting face-to-face meetings prior to filing...