Seoul, Oct 21 (IANS): The health ministry here said on Monday it plans to co-host an annual biotechnology convention next month with the World Health Organization (WHO), bringing experts together to discuss strategies for a stable global healthcare supply chain.

Under the theme "Future investment for a healthy and secure decade," the World Bio Summit 2024 will kick off in Incheon, west of Seoul, on November 11-12, according to the Ministry of Health and Welfare.

"The World Bio Summit 2024 will serve as a venue for discussions to address and prepare for global health care threats," Health Minister Cho Kyoo-hong said, reports Yonhap news agency.

The event, marking the third of its kind, will invite health ministers and other senior officials from governments, businesses and global organisations to discuss pressing issues in the vaccine and biotechnology sectors.

"Participants will exchange the latest trends in areas such as innovative research and development, strengthening global supply chains and enhancing biotechnology capabilities, while exploring ways to expand global cooperation," the ministry said.

On the sidelines of the gathering, the Asian Development Bank, the International Vaccine Institute and other major organisations plan to participate in seminars and other events, it added.

The health ministry will also host the Global Business Lounge during the summit to expand South Korean health care companies' global cooperation.

Meanwhile, according to the WHO, increased investment is urgently needed to address evolving health risks and meet the mental and sexual and reproductive health needs for the nearly 1.3 billion adolescents (aged 10-19 years) globally.

“Promoting and protecting the health and rights of young people is essential to building a better future for our world,” said Dr Tedros Adhanom Ghebreyesus, Director-General of WHO, recently.