KT Partners with Korea Novartis for Collaboration in Digital and Biohealth Business

[Asia Economy Reporter Seulgina Jo] KT has partnered with Korea Novartis to collaborate in the digital and biohealth industry sectors.

KT and Korea Novartis announced on the 10th that they signed a Memorandum of Understanding (MOU) for cooperation in digital and biohealth business at the KT Gwanghwamun EAST building in Jongno-gu, Seoul.

Based on its capabilities in artificial intelligence (AI), big data, and cloud, KT will collaborate with Korea Novartis to promote ▲ programs for discovering and nurturing promising domestic and international digital and biohealth venture companies and new technologies ▲ research and development of medical AI solutions ▲ expansion of digital transformation (DX) services for patient follow-up management after cancer drug and other prescriptions ▲ joint production of short-form content and campaign utilization to improve disease awareness.

Specifically, they will share the startup support program of Novartis Biome, a digital healthcare-related program, to provide consulting for clinical trials or commercialization of promising domestic digital and biohealth startups and support their overseas expansion. They will also cooperate to expand patient management services by monitoring symptoms for a certain period in patients who have been administered or taken Novartis medicines.

At the end of last year, KT established the ‘Digital & Biohealth P-TF organization’ directly under the CEO to foster new digital and biohealth businesses. This MOU signing is the first step with a global pharmaceutical company since the organization was established, and it is expected to serve as a foundation for KT’s future digital and biohealth new business initiatives.

Kim Hyung-wook, Vice President and Head of KT Future Value Promotion Office, said, “We will contribute to revitalizing the digital and biohealth industry by discovering and nurturing promising domestic and international digital and biohealth venture companies and new technologies with global pharmaceutical company Novartis,” adding, “KT will promote various collaborations based on KT’s digital capabilities, such as enhancing patient management services after drug prescriptions together with Korea Novartis.”

Joshi Venugopal, CEO of Korea Novartis, said, “This collaboration is an innovative partnership combining Novartis’ efforts to drive digital innovation in the healthcare ecosystem with KT’s advanced ICT infrastructure and IT solutions,” and added, “Through this agreement, promising venture companies and new technologies in the domestic and international digital healthcare field will be discovered, bringing positive impact and development to the healthcare ecosystem.”