SparkLabs Partners Accelerates Establishment of Clinical Specialty Hospital

Fostering Clinical-Focused Bio Startups
Building a Bio Cluster Through Collaborative Research and More

SparkLabs Partners, the venture capital arm of SparkLabs Group, announced on January 22 that it will actively promote the establishment of a clinical specialty hospital in the Pohang region.

To this end, SparkLabs Partners signed a four-party business agreement for the "Establishment of a Clinical Specialty Hospital and Development of a Bio Cluster" with Handong Global University, Pohang Technopark, and the Korea Angel Investment Association at Hyundong Hall of Handong Global University.

Pohang Technopark Director Paik Youngho (from left), Handong Global University President Choi Doseong, Korea Angel Investment Association Vice Chairman Yoo Dongjun, and SparkLabs Partners CEO Kim Homin are taking a commemorative photo after signing a business agreement. SparkLabs

Through this agreement, each organization will cooperate in the establishment and operation of a clinical specialty hospital in Pohang. They have also agreed to jointly foster clinical-focused bio startups, promote collaborative medical and bio research among academia, industry, and research institutes, develop strategies and carry out activities to secure investment resources, provide infrastructure for clinical trials and research, and facilitate validation and commercialization.

This project aims to foster Pohang as a bio-innovation hub that connects clinical research to technology commercialization through practical collaboration among local medical institutions, research organizations, and private investors. At the same time, the plan is to establish a growth ladder for bio startups based on the region's medical infrastructure.

Kim Homin, CEO of SparkLabs Partners, stated, "Until now, the conditions for conducting clinical trials domestically have not been sufficient, forcing us to incur significant costs by conducting them overseas. By establishing a clinical specialty hospital, we will implement a truly clinical-focused bio cluster model and develop Pohang into a global bio hub."