‘New start at a law firm…will become a trusted expert’

Sol Kim, Jung-Eun Kim, Expert Advisors at Shin&Kim Healthcare Team

Expert Advisors Jung-Eun Kim (left) and Sol Kim (right) recently joined Shin & Kim

The role of law firms has greatly expanded in the pharmaceutical bio and healthcare sectors recently.

 

Whereas law firms used to provide piecemeal legal services in the past, law firms have now been providing comprehensive services over a long period of time, covering the whole course of a drug’s journey from pre-approval to reimbursement.

 

As such, many talents in the pharma and biotech industry have been heading to law firms.

 

This is the case with Sol Kim(35) and Jung-Eun Kim (34), who joined Shin & Kim's Healthcare team this year.

 

“I want to become a trusted expert for the clients,” they said.

 

Expert advisors from pharmaceutical companies and HIRA joint Shin&Kim Healthcare Team Sol Kim and Jung-Eun Kim Kim joined Shin & Kim's Healthcare Team in June and September of this year, respectively.

 

Sol Kim was previously in charge of insurance drug pricing at the Korean subsidiaries of multinational pharmaceutical companies such as Pfizer Korea, AstraZeneca Korea, and BMS Korea.

 

Before joining the firm, Jung-Eun Kim worked for over 6 years at the Health Insurance Review and Assessment Service, where she was responsible for evaluating drug reimbursement adequacy.

 

The two pointed to the scope of their work as the biggest difference between their new jobs at the law firm.

 

Whereas in their previous jobs, they were able to delve deeply into a relatively narrow scope of work, they said, their work at law firms requires them to be creative across a much wider range of areas.

 

“The scope of collaboration is much larger at the firm, so you can be creative without being limited to a specific area,” says Sol Kim.

 

”In the past, when working in government affairs, I used to wonder about the government’s perspective.

 

Here, there are many lawyers, advisors, and expert advisors from government and public organizations, which is very helpful.” For Jung-Eun Kim, a former HIRA member, the change is even greater.

 

“When I was in HIRA, I only looked at the drugs I was in charge of.

 

Here, I experience everything that happens before a drug enters the insurance landscape.

 

I didn't realize how much work goes into the process, and it has broadened my perspective.” Deciding to join a law firm took a lot of thought...“The value of working for the patients remains constant” Both advisors had many concerns before joining the law firm.

 

They explained how they contemplated the role of law firms in the pharma-bio-healthcare sector, why they wanted to join a law firm, and what they could do at a law firm.

 

“No matter where you work, you work for patients,” was the conclusion made by both advisors.

 

In addition, having the opportunity to be more proactively involved in pharmaceutical affairs in a much broader scope at a law firm was attractive.

 

“I thought a lot about what I could do in a law firm,” said Sol Kim.

 

”After thinking about it, I concluded that it doesn't matter where you work, in drug pricing or others, as you’re still working for patients, and I think there's a lot more you can do in a law firm as Korea’s reimbursement regulations are becoming more and more demanding.” Jung-Eun Kim also said, “At HIRA, I was in charge of objectively looking at drug prices based on pharmacoeconomic evaluation results.

 

Rather than just imposing price cuts, I had been reviewing the appropriate price.

 

The same is true here.

 

As the drugs come into our country the exchange rate changes.

 

The same applies here, in that we want to make sure that these drugs come into Korea and are available to patients at the right price.” “Will become an ‘expert’ who trusts clients...will grow together with Shin & Kim's Healthcare Team” Both members emphasized their desire to grow with Shin & Kim’s Healthcare Team.

 

With the addition of the 2 members, Shin & Kim's Healthcare Team has grown to over 30 people.

 

The team is led by Sung Tae Kim, a former lawyer at the Ministry of Health and Welfare, and includes a number of people who have worked at the Ministry of Health Welfare, Ministry of Food and Drug Safety, Health Insurance Review and Assessment Service, and pharmaceutical and biotech companies.

 

Jung-Eun Kim said, “Not only HIRA, but MOHW is also in charge of drug pricing based on the enforcement and implementation rules stipulated by law.

 

This means that interpreting the law is a very important point.

 

It is very helpful to have lawyers in the same space.

 

In addition, the other experts and advisors provide different perspectives.” “I joined here as an expert advisor,” said Jung-Eun Kim, ”so I want to be true to my position and serve as an expert that clients can trust.” “I think the role of law firms is becoming more important as regulations related to drug prices are becoming more and more stringent,” said Sol Kim.

 

”As a former pharmaceutical industry member, I aim to become an expert who can better understand the needs of pharmaceutical companies and act as a bridge between pharmaceutical companies and law firms.”