Seoul National University Hospital to Foster Promising Korean Bio Companies and Support Global Expansion
- atvlo3
- Jan 6
- 2 min read
KRW 12.6 billion investment over six years to support R&D advancement, fundraising, and research infrastructure
Aiming to strengthen the competitiveness of Korea’s bio industry by building a “research–clinical–commercialization” ecosystem
[Herald Economy = Kim Tae-yeol, Senior Medical Correspondent]Seoul National University Hospital (President: Kim Young-tae) announced on the 4th that it has signed agreements for the “Global Bio Scale-up Company Development Project” with promising domestic bio companies and will invest KRW 12.6 billion over six years to support technological innovation and global market entry.
The Global Bio Scale-up Company Development Project is part of a national initiative supported by the National Research Foundation of Korea to scale up promising bio technologies and support global expansion. The agreement ceremony was attended by Kwon Sung-geun, Head of the Project Group at Seoul National University Hospital; Kim Sung-hyun, Director at the National Research Foundation; and representatives from seven selected companies.
The project aims to identify companies with promising technologies in the fields of new drugs/advanced biotechnology and medical devices/digital healthcare, and to support their entry into domestic and global markets through technology advancement and commercialization. As the lead institution, Seoul National University Hospital will establish a dedicated project group to contribute to revitalizing Korea’s bio industry ecosystem.
The project will be carried out in two phases:
Phase 1 (2024–2026): KRW 5.4 billion
Phase 2 (2027–2029): KRW 7.2 billion
In each phase, Seoul National University Hospital will select at least seven promising companies and provide support including:
Technology advancement (approximately KRW 200 million per company per year)
Domestic and international business partnering
Investment attraction (fundraising)
Legal advisory services
In addition, selected companies will gain access to the hospital’s advanced clinical research infrastructure, enabling high-level R&D based on medical big data research platforms. Through its research facilities and professional networks, the hospital will also offer extensive advisory and support across the entire commercialization process—including preclinical studies, clinical trials, and GMP certification—for technologies spanning digital health, pharmaceuticals, and medical devices.
In Phase 1, the selected companies include:
New Drug / Advanced Bio (3 companies): Mediarc, Illimis Therapeutics, Hyuntech N Bio
Medical Devices / Digital Healthcare (4 companies): MicroT, SOFNT, Emocog, Konnective
From the second year onward, a new “Overseas Bio Company Growth Program” will be introduced to further expand support for global market entry.
Kwon Sung-geun, Head of the Project Group at Seoul National University Hospital, stated:“By leveraging the resources and global network of Seoul National University Hospital, we will support the sustainable growth of promising companies and further enhance the capabilities of our Technology Commercialization Support Office. Through this effort, we aim to build a virtuous cycle of research–clinical–commercialization, similar to the Boston bio ecosystem, and strengthen the global competitiveness of Korea’s bio-health industry.”
Kim Tae-yeol (kty@heraldcorp.com)
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