MSME Ministry Expands Korea-Japan Shuttle Diplomacy to Bilateral Startup Hubs

Vice Minister Noh Yongseok visits Japanese startup hubs Shonan I-Park and CIC Tokyo
Discussing cooperation models between the two countries' innovation hubs

Noh Yongseok, First Vice Minister of the Ministry of SMEs and Startups, carried out on-site activities in Japan to strengthen cooperation between Korea-Japan startup hubs.

The Ministry of SMEs and Startups announced that on the 25th, Vice Minister Noh visited Shonan I-Park in Fujisawa, Japan and CIC (Cambridge Innovation Center) in Tokyo, where he held a series of meetings. This visit was arranged as part of a high-level follow-up trip to Japan under the Korea-Japan shuttle diplomacy framework between the two leaders, with the aim of building a cooperative structure for sustainable innovation by bio-sector startups centered on the two countries' hubs.

Noh Yongseok, First Vice Minister of SMEs and Startups

Shonan I-Park, which Vice Minister Noh visited in the morning, is a global open-innovation hub established by Takeda, Japan's largest pharmaceutical company. It serves as a core platform for Korea-Japan bio cooperation, where Korean bio ventures have achieved tangible results such as research collaboration with Japanese pharmaceutical companies and global corporations. Since signing a business agreement with the Ministry of SMEs and Startups in 2023, the two sides have continued their cooperation, and currently 10 Korean venture companies are based there with support from the Chungbuk Global Special Zone for Innovation’s overseas proof-of-concept program.

At Shonan I-Park, Vice Minister Noh met with CEO Toshio Fujimoto to discuss ways to link and cooperate with the K-Bio Lab Hub being built in Songdo, Incheon (Yonsei University International Campus). The two sides agreed that, until the K-Bio Lab Hub is completed in the second half of 2028, they will first focus on program-based cooperation, and after completion, they will expand cooperation to include sharing equipment and tenant space. In particular, as a first step in cooperation, they discussed holding the Korea preliminary round in Songdo, Incheon, where the K-Bio Lab Hub is located, for "Innovation Tiger," a program operated by Shonan I-Park that discovers promising pharmaceutical and bio startups and connects them with global investors and pharmaceutical companies.

Vice Minister Noh also met with representatives of the 10 bio venture companies residing in Shonan I-Park to hear about the progress of their local proof-of-concept projects and the challenges they face. The companies requested policy support to help their joint research and development (R&D) with Japanese pharmaceutical companies lead to follow-up commercialization and other outcomes. Vice Minister Noh said, "Shonan I-Park is a representative site where Korea-Japan bio cooperation is leading to real, tangible results," adding, "The government will continue to strengthen support that connects to joint R&D and commercialization, based on the voices from the field."

CIC, which Vice Minister Noh visited after Shonan I-Park, is also a global startup hub with locations in major cities around the world. The K-Startup Center opened at CIC Tokyo in May 2024, and currently 24 Korean startups are based there, receiving support for their overall business activities, including office space and collaboration with local large corporations and local governments. Vice Minister Noh met with Tim Rowe, head of CIC Tokyo, to discuss ways to link and cooperate with the K-Startup Hub being established in the Hongdae area of Seoul.

On the occasion of this visit, the two sides agreed to build a cooperative framework between the K-Startup Hub and CIC, and to gradually promote programs for global networking and investment linkage for startups in strategic sectors. Vice Minister Noh said, "Korea-Japan startup cooperation is an important foundation for advancing comprehensive cooperation encompassing economic security and science and technology," and added, "We will continue to expand cooperation among Korea-Japan innovation hubs in fields such as bio, AI, and deep tech, and actively support the global expansion of Korean startups and the joint growth of the Korea-Japan startup ecosystem."