“Medical Device Hub City” … Changwon Special City Signs Agreement to Revitalize Medical Device Industry

Accelerating Medical Device Industry Development through Collaboration with 12 Institutions Including Hospitals, Universities, and Research Institutes

Changwon City in Gyeongnam has signed a business agreement with key institutions to revitalize the medical device industry, which is being intensively fostered as a future new industry.

Changwon Special City Signs Agreement to Revitalize Medical Device Industry.

The agreement, made on the 22nd, is expected to be an important opportunity to innovatively develop Changwon's medical device industry and revitalize the local economy.

The agreement involved Changwon City and Samsung Changwon Hospital, Changwon Gyeongsang National University Hospital, Changwon Hanmaeum Hospital, Changwon Fatima Hospital, National Masan Hospital, National Changwon University, Gyeongnam National University, Korea Electrotechnology Research Institute, Korea Institute of Materials Science, Changwon Industry Promotion Agency, and Changwon Medical Bio Industry Corporate Council.

Through the operation of a working-level consultative body, they plan to explore development and cooperation plans for the medical device industry while providing comprehensive support for the commercialization of innovative products, including research and development, preclinical and clinical trials, licensing, IRB (Institutional Review Board), CRO (Contract Research Organization), and professional workforce development, aiming to make the Changwon area a hub for the medical device industry.

Hong Nampyo, Mayor of Changwon City, said, “The medical device industry is a field with great future growth potential, and we are focusing policies to foster Changwon as a global medical device industry mecca. This agreement will further strengthen our competitiveness.” He added, “We will accelerate the development of medical device technology and spare no support so that global companies can emerge from Changwon, the central city of medical devices.”

Meanwhile, since 2023, Changwon City has been supporting the establishment of an advanced medical device research and manufacturing center (KRW 25.7 billion) and corporate IP-R&D (KRW 6.1 billion). From next year, it is expected to rise as a mecca for advanced medical bio device manufacturing by focusing on building demonstration centers and support centers for preclinical, clinical, and professional workforce development in collaboration with hospitals, schools, and research institutes, as well as concentrating medical bio companies.