Korea Bio Association Signs MOU with Japan Bio Association to "Strengthen Technical Cooperation"

The Korea Bio Association announced on the 16th that it signed a Memorandum of Understanding (MOU) with the Japan Bio Association (JBA) during a visit to Bio Japan held in Yokohama, Japan, on the 13th.

The Korea Bio Association signed a business agreement with the Japan Bio Association (JBA) on the 13th in Yokohama, Japan. Lee Seung-gyu, Vice Chairman of the Korea Bio Association (second from the left), and Yoshiaki Tsukamoto, Executive Director of the Japan Bio Association (second from the right), along with other officials, are taking a commemorative photo.
[Photo by Korea Bio Association]

This MOU was pursued to share trends in bio technology and policies between the two countries and to seek partnering opportunities. Since the first Korea-Japan Bio Association MOU was signed in 2011, the association explained that the MOU was renewed after 13 years with the intention of revitalizing and strengthening the cooperation in the bio industry between the two countries, which had slowed down in recent years.

This MOU was signed as part of the "Future Growth Engine, Advanced Technology Economic Security Partnership" following the Camp David summit held in the United States last August, attended by President Yoon Suk-yeol, U.S. President Joe Biden, and Japanese Prime Minister Fumio Kishida. Through the MOU, both sides agreed to jointly support cooperative activities to activate partnerships between Korean and Japanese bio companies.

Based on this MOU, the Japan Bio Association and the Korea Bio Association plan to operate programs for open innovation with large corporations and joint research and development (R&D) among bio startups through the annual events hosted in each country, namely "BIO Japan" and "BioPlus-Interphex Korea (BIX)," and to promote exchanges through the operation of delegations.

The Ministry of Trade, Industry and Energy recently announced the direction for promoting Bioeconomy 2.0, with plans to secure a super-gap in bio manufacturing and to fully foster future industries by achieving a production scale of 100 trillion KRW and export scale of 50 billion USD by 2030. Japan announced its "Bio Strategy 2019" as a cross-ministerial strategy earlier in June 2019, with the Cabinet Office declaring the realization of a bioeconomy society by 2030 as a national strategic promotion area.

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