Minister Lee Young Attempts to Attract Overseas Investment for Bio Companies... Visits to the US and UAE

Lee Young, Minister of SMEs and Startups / Photo by Jinhyung Kang aymsdream@

Lee Young, Minister of the Ministry of SMEs and Startups, will visit the United States and the United Arab Emirates (UAE) in the first half of this year to support investment attraction for bio companies.

On the 21st, after concluding a field meeting on challenges in the security industry at Dream Square in Dohwa-dong, Seoul, Minister Lee told reporters, "I will visit the US and UAE in the first half of this year together with bio startups and SMEs."

He added, "We are currently working on matching with local venture capital (VC), accelerators (AC), and regulatory specialized companies."

He explained the purpose, saying, "Bio companies operate based on corporate value, and recently there have been talks about difficulties in attracting investment, so we intend to prioritize caring for bio companies."

Minister Lee also repeatedly emphasized the importance of entering the Middle Eastern market during the meeting with representatives of the security industry.

He stated, "There is a perception that after oil money, if you do not spend a lot to seize the hegemony of the digital economy, it is risky," and added, "The Middle Eastern market tends to spread to brother countries once a reference is established in one place."

He further advised, "Middle Eastern countries are well aware of the importance of cybersecurity and have requested the Ministry of SMEs and Startups to introduce security companies. Turning attention to the Middle Eastern market could bring good opportunities."

Meanwhile, Minister Lee will hold an on-site meeting tomorrow (22nd) at Incheon Startup Park with Kwon Ki-seong, Vice President of Celltrion, and medical bio startup companies.

This content was produced with the assistance of AI translation services.