KOSME and K-Biohealth Join Forces to Foster "K-Medical" Unicorns

Cooperation for Promoting Startups and Growth in the Biohealth Industry

The Korea SMEs and Startups Agency (KOSME) announced on the 25th that it has signed a business agreement with the Osong Advanced Medical Industry Promotion Foundation to promote innovative growth among small and medium-sized enterprises and startups in the biohealth sector.

The signing ceremony was attended by 15 officials, including Lee Byungcheol, Deputy President of KOSME, and Lee Myungsoo, Chairman of K-Biohealth. The purpose of the agreement is to establish a foundation for collaboration to foster the domestic medical industry and drive innovative growth among biohealth companies.

Going forward, KOSME and K-Biohealth have agreed to actively cooperate in several areas: promoting startups and building a foundation for innovative growth in the biohealth industry; supporting initial public offerings (IPOs) and attracting external investment; identifying and improving regulations in the biohealth sector; matching job seekers and employers; and nurturing and providing training for talented professionals.

In particular, the two organizations plan to jointly identify promising domestic biohealth startups and focus on fostering "K-Medicon" (medical unicorn companies) by linking KOSME's startup support programs with K-Biohealth's research and production infrastructure.

Deputy President Lee stated, "The bioindustry is a sector with strong growth potential based on global demand," and added, "Together with K-Biohealth, we will work even harder to ensure the sustainable growth of the biohealth industry and the development of global companies."