Establishing a Bio Medical Device Overseas Expansion Support Hub
with an Investment of 24.9 Billion KRW
Hongseong County, Chungnam Province, announced on the 17th that it has been finally selected as the target site for the "Bio Medical Device Overseas Expansion Support Zero Trust-Based Infrastructure Project" in the "Bio Nano Industry Open Ecosystem Promotion Project" hosted by the Ministry of Trade, Industry and Energy.
Over the next five years, the county plans to invest a total project cost of 24.9 billion KRW, including 9.8 billion KRW in national funding, to establish a support hub for overseas expansion that provides one-stop assistance for the entire process from bio medical device product development to obtaining global certifications.
This project was made possible through the efforts of four participating organizations, led by the Naepo Industry-Academic Cooperation Foundation at Konyang University: Korea Testing Laboratory, Konyang University Hospital, Yonsei University Industry-Academic Cooperation Foundation, and Chonnam National University Industry-Academic Cooperation Foundation.
The core of the project is to ensure that bio medical device products meet the demands of the global market from the design stage and to establish a reliable technical support system.
To achieve this, a specialized support center capable of responding to international standards will be established, and an international cooperation system will be set up to enable the swift acquisition of major overseas certifications such as US FDA and European MDR.
In addition, the plan is to systematically support domestic companies' overseas expansion through customized technical support and consulting, and to accelerate the development of products that meet global regulatory standards by providing essential technologies such as usability evaluation, clinical and non-clinical assessments throughout the entire process from product development to licensing.
A county official stated, "Being selected for this project will be a turning point for Hongseong County to emerge as a hub for the bio medical device industry," and added, "By establishing a support hub for international certification, we will lay the foundation for local companies to expand into the global market."
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