How to Enhance International Competitiveness of Korean Pharmaceutical Industry with CEPA as a momentum?

CEPA(Comprehensive Economic Partnership Agreement, hereinafter CEPA) between India and Korea may influence some changes on Korean pharmaceutical industry which shows less competitive advantages than Indian industry in many regards. So the purpose of this paper remains on suggesting the way of enhancing international competitiveness for Korean industry on the basis of double diamond model. Through the comprehensive and deep analysis, our findings on recommendable business strategies for Korea are as follows ; in terms of factor conditions, first, cooperative strategy in R&D for developing generics will be required. Second, Introduction of CMO business can be considered. In terms of demand condition, Korean firms should find out the chance for demand creation in Indian market which has future market potential and American market exploration, as soon as possible. With regards to strategy, structure and competition, trying M&A with leading Indian companies and utilizing well organized medical professionals in India will be considered. In the points of related and supportive parts, lastly, Korean government should try to make so called "National Strategic R&D committee" for pharmaceuticals and bring u-healthcare service to Korea in the first place. If Korean pharmaceutical industry implement above-mentioned strategies, CEPA can be turned into business opportunities from the crisis. As a result, Korean firms shall have more powerful global competitiveness eventually.