Full-Scale Promotion of Korea-Japan Cooperation in the Advanced Bio Sector

Agreement with Japan's Largest Bio Cluster 'Shonan Health Innovation Park'

The Ministry of SMEs and Startups announced on the 9th that it has signed a 'Business Agreement for Innovation in Advanced Bio Ventures and Startups' with Shonan Health Innovation Park in Japan. Shonan Health Innovation Park (hereinafter referred to as iPark) is an innovation cluster established by Takeda, a global Japanese pharmaceutical company, which opened its own research and development center to universities and external companies in 2018, making it the largest facility in Japan in the life sciences field.

Through this agreement, the Ministry of SMEs and Startups and iPark will jointly select domestic startups wishing to move in for technology development and clinical trials in the advanced bio field, and support local validation and commercialization. Additionally, they agreed to promote joint research and development (R&D) for the co-development or joint commercialization of original technologies in Japan's advanced bio sector. To promote joint R&D, iPark will discover original technologies and plan projects held by Japanese universities, research institutes, and companies, while the Ministry of SMEs and Startups will select domestic bio ventures equipped with joint R&D capabilities.

Minister Lee Young of the Ministry of SMEs and Startups (center) is taking a commemorative photo on the 9th at S Factory in Seongdong-gu, Seoul, after signing a business agreement for advanced bio venture and startup innovation with Toshio Fujimoto, CEO of Japan's Shonan Health Innovation Park (iPark Institute) (to the right of Minister Lee Young).

They also decided to jointly operate an open innovation program where Korean ICT and bio startups develop solutions for unresolved or highly challenging issues faced by Japanese pharmaceutical companies.

Minister Lee Young said, "Cooperation between Korea, which has strengths in bio ventures, and Japan, which has strengths in global big pharma and research environments, will be the optimal partnership to promote the development and globalization of advanced bio new technologies." He added, "Through this business agreement, we hope to open opportunities for our advanced bio companies, which have the technology but are hindered by regulations, to conduct research in a freer environment and challenge the global market, thereby contributing to human life and safety."

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