Life Semantics Corp., a Korean digital health company, said on Monday that it recently introduced its digital health products to Paraguayan government officials.
Anibal Gimenez Kullak (right), Director of Industrial Policy of the Ministry of Industry and Commerce of Paraguay, and Alison Rocio Iglesias Valdez, Directorate of Medical and Dental Device Registration, listen to the explanation of Life Semantics officials about the company’s digital device platform at Life Semantics headquarters in Gangnam-gu, Seoul, Monday. (Credit: Life Semantics)
Paraguay not only borders major Latin American countries such as Brazil and Argentina but is also a member of the MERCOSUR, also known as the Common Market of South America. The country is considered a bridgehead to enter the Latin American market.
The Paraguay government has designated Korea as a high-level biosurveillance country to foster its medical industry and create an environment for Korean companies to invest.
The Paraguay government promotes good manufacturing practice (GMP) due diligence exemptions for Korea’s Ministry of Food and Drug Safety (MFDS)-approved drugs and medical devices.
The product demonstration was attended by Anibal Gimenez Kullak, Director of Industrial Policy of the Ministry of Industry and Commerce of Paraguay, and Alison Rocio Iglesias Valdez, Directorate of Medical and Dental Device Registration.
Life Semantics introduced Redpill Breath, a digital prescription treatment for respiratory rehabilitation, and Dr. Call, Korea’s first contactless treatment business for Koreans living overseas. It also showcased two healthcare AI solutions built through the Doctor 2.0 project to the two Paraguayan government officials.
“Korean digital medical products are subject to strict licensing standards, and only high-quality products are authorized as medical devices,” Life Semantics External Affairs Head Baek Soo-hyun said. “This means that Korean digital therapies have a competitive advantage when entering the global market.”
Life Semantics said it has been putting extra effort to expand its business overseas.
Earlier, the company signed a business agreement with Praram 9 Hospital, a high-level general hospital in Thailand, to provide Dr. Call in March. Life Semantics is developing various businesses to enter the Southeast Asian market for digital medical products.
In addition to Praram 9 Hospital, the company is also planning to collaborate with seven other high-level general hospitals in Thailand and expects to expand into neighboring countries in Southeast Asia, such as Indonesia and Laos.
Source : Korea Biomed