South Korea’s National Assembly voted to amend the Act for the Management of Narcotic Drugs to open the door for prescriptions of CBD/ low THC cannabis.
It will not be a simply process for patients to obtain prescriptions. Firstly they will need to apply to the Korea Orphan Drug Center, the government body established to deal with rare medicines in the country. The case will be reviewed and approval only granted on a case by case basis. They will also require a prescription from the medical professional.
“South Korea legalizing medical cannabis, even if it will be tightly controlled with limited product selection, represents a significant breakthrough for the global cannabis industry,” said Vijay Sappani, CEO of Toronto-based Ela Capital, a venture capital firm exploring emerging markets in the cannabis space.
“The importance of Korea being the first country in East Asia to allow medical cannabis at a federal level should not be understated. Now it’s a matter of when other Asian countries follow South Korea, not if.”
This follows on from July when the Ministry of Food and Drug Safety announced that those suffering with HIV/AIDS, epilepsy and seizure disorders would be granted access to Epidiolex, Marinol, Cesamet and Sativex.