In a major development for the cannabis industry, South Korea legalized medical marijuana — though with many restrictions. It’s the first country in East Asia to legalize weed and only the second Asian country to do so.
South Korea’s National Assembly voted on amendments to the Act on the Management of Narcotic Drugs that would allow non-hallucinogenic dosages of medical marijuana.
Patients will be required to apply to the Korea Orphan Drug Center, an organization that allows access to rare medicines.
The approvals are provided on a case-by-case basis and necessitate a prescription.
The recent vote follows a July decision of the Ministry of Food and Drug Safety, which said it would allow the cannabis-based drugs Epidiolex, Marinol, Cesamet and Sativex for epilepsy, symptoms of HIV/AIDS and cancer-related treatments.
Why It’s Important
The vote on a cannabis law by the National Assembly is a major step in a relatively conservative country: South Korea still has some of the toughest rules regarding recreational cannabis. Citizens risk prosecution for cannabis consumption even if they are visiting countries where marijuana use by adults is legal. [Read More @ Yahoo]
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers