Support for strengthening global capabilities of domestic bio and medical start-ups...South Korea's AstraZeneca, Seoul Biohub sign MOU
Oct 28, 2025
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The business agreement ceremony, held at Seoul Biohub on the 27th, began with congratulatory remarks from Jeong Han-seop, head of the high-tech industry division in Seoul, and Choi Yoon-eok, head of the research achievement innovation policy division at the Ministry of Science and ICT. Then, Korea's AstraZeneca CEO Jeon Se-hwan and Seoul BioHub CEO Kim Hyun-woo introduced the current status of open innovation at each institution.
The agreement was signed to strengthen the R&D capabilities of domestic bio and medical start-ups and systematically support them in the global market by operating a Joint Incubation Center in Seoul Biohub.
Through this business agreement, Seoul BioHub will find candidates for domestic bio and medical start-ups that meet the selection criteria, provide research infrastructure and operation programs first, and connect external networks to attract investment and expand commercialization opportunities. AstraZeneca Korea will provide customized mentoring and milestone management programs to the finally selected domestic bio and medical start-ups, as well as run a joint incubation center in Seoul BioHub. Meanwhile, the two institutions plan to finally select two companies among the candidates within this year and start a full-fledged mentoring program in the first quarter of 2026.
Jeon Se-hwan, CEO of AstraZeneca Korea, said "Domestic bio and medical start-ups have excellent ideas and potential for new drug development, but they face several limitations due to limited resources in the process of entering the global market. This cooperation is an important first step toward laying the groundwork for these companies to grow on the global stage and showcase innovative research results to the world," he said. In order to strengthen national competitiveness amid the rapidly changing global situation, it is necessary to create an environment in which promising bio and medical start-ups can seize opportunities for growth. As a multinational pharmaceutical company, AstraZeneca Korea wants to return its accumulated global network and R&D experience to the development of the domestic industrial ecosystem and take the lead in creating such an environment. "Following this cooperation, we will continue to expand our practical partnership for the shared growth of the domestic industry..." he added.
"This agreement is meaningful in that it has laid a practical path for domestic startups to directly participate in the global bio ecosystem through open innovation," said Kim Hyun-woo, head of Seoul Biohub. "Seoul Biohub will continue to support promising bio and medical start-ups in Korea to secure competitiveness and sustainability on the global stage in the future.""
This article was translated by Naver AI translator.
