South Korea: Implementation Details Of Korea’s “Sunshine Act” Under Discussion.

On June 3, 2017, Korea’s version of the “Sunshine Act” will go into effect.Pharma Compliance Digital CRM Marketing Transparence DMOS Corée Sud South Korea: Implementation Details Of Koreas Sunshine Act Under Discussion.
Article 47-2 of the Pharmaceutical Affairs Act and Article 13-2 of the Medical Devices Act of Korea require all pharmaceutical and medical device companies to establish and maintain an expense reporting system to collect and report on economic benefits provided to healthcare professionals (“Expense Reporting System”). Under this newly required Expense Reporting System, pharmaceutical and medical device companies are now required to collect and keep records of any economic benefit provided to a medical institution or healthcare professional and prepare an expense report on such economic benefits within three (3) months of the end of each fiscal year. The generated expense report, along with supporting documentation, must then be kept for five (5) years.

To read the article by Article by Ki Young Kim, Raymond M. Kang and In Seon Choi

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