A transfer to legalize medical marijuana in South Korea picked up a key backer, growing its probabilities of approval by the top of this yr.
South Korea can be the one nation in Asia, in addition to Israel, to approve medical cannabis for qualifying sufferers, which might mark a big milestone in the worldwide medical cannabis business.
India permits medical cannabis cultivation for scientific functions, however there isn’t any authorized entry framework for sufferers.
Thailand is engaged on a draft law to drastically increase medical marijuana laws.
Korea’s MMJ development for its inhabitants of 51 million got here when the Ministry of Food and Drug Safety (MFDS) stated it will help Rep. Shin Chang-hyun’s invoice (obtain the textual content of the invoice in Korean right here) to revise the Act on the Control of Narcotics.
That act, which might allow using medical marijuana, is at present earlier than the National Assembly.
Shin’s Democratic Party has probably the most seats in the nation’s parliament.
The ministry can also be in search of to make modifications to the law, together with figuring out which medical cannabis manufacturers can be permitted and precisely how the drugs might be accessed by sufferers.
Kwon Yong-hyun of the Korean Cannabis Association informed Marijuana Business Daily the ministry’s transfer represents a “breakthrough” for the nation’s burgeoning medical marijuana business.
The solely medical cannabis merchandise that may be permitted are Epidiolex, Marinol, Cesamet and Sativex for circumstances together with epilepsy, signs of HIV/AIDS and cancer-related remedies.
If the invoice is authorised, sufferers requiring medical cannabis can be required to use to the Korea Orphan Drug Center, a authorities physique established to facilitate affected person entry to uncommon medicines in the nation.
A prescription from a medical practitioner can be required, and approval can be on a case-by-case foundation.
Separately, an Israeli cannabis firm and a Canadian personal fairness agency introduced plans to provide the South Korean market with medical cannabis, although no particulars have been offered on what will probably be provided in mild of the restrictions on accredited merchandise by the ministry.
The Korean Cannabis Association organized for the availability of MMJ from Tikun Olam, a licensed cultivator of medical cannabis in Israel, and York Bridge Capital, a Canada-based personal fairness agency, in line with a information launch.
“We are making connections with patients’ communities and associations of professionals. We have momentum,” Kwon of the Korean Cannabis Association informed MJBizDaily.
Matt Lamers might be reached at [email protected]
To join our weekly Canada marijuana enterprise publication, click on right here.