Embassy of the United States

Press Releases

U.S. and Korean Officials Meet on Pharmaceutical Issues in the KORUS FTA November 14, 2006 On November 12-13, the Pharmaceutical/Medical Devices Working Group of the KORUS FTA met in Seoul, Korea to discuss issues related to the draft implementing regulations for Korea's Drug Expenditure Rationalization Plan (DERP). While the United States respects Korea’s right to maintain its national healthcare system and supports its overall goals of reducing health care costs and supporting research and development, the United States remains concerned that the DERP, as currently proposed: (1) will undermine Korean patients’ ability to access the newest and most effective medicines in a timely manner; (2) is not sufficiently transparent or predictable in its procedures, and (3) fails to treat foreign innovative companies equally with domestic generic companies We continue to be disappointed with the lack of progress in addressing these concerns, and the United States will continue to urge Korea to ensure that its new regulations provide transparent and non-discriminatory treatment for pharmaceutical products.  The Pharmaceutical/Medical Devices Working Group will meet again at the fifth round of KORUS FTA talks scheduled for the week of December 4-8 in Big Sky, Montana.