DAEJEON — The innovation ecosystem for pharmaceuticals and biotechnology within South Korea's research and development special zones is set to be significantly strengthened.
The INNOPOLIS Foundation said it signed a memorandum of understanding with the Korea Drug Development Fund (KDDF) on the 12th at the Westin Josun Seoul to bolster the pharmaceutical and biotech innovation ecosystem.
The two organizations plan to jointly identify promising pharmaceutical and biotech companies and link their stage-by-stage corporate support programs, covering areas such as clinical trials and overseas expansion, to broaden the collaborative foundation that deep-tech pharmaceutical and biotech firms need for drug development and commercialization.
As their first joint project, companies based in the special zones took part in the 2026 KDDF CPG (Co-development & Partnership for Globalization) Symposium hosted by KDDF, where they held one-on-one partnering sessions with global pharmaceutical companies.
The two organizations said they will expand practical cooperation to support the global commercialization and overseas market entry of promising pharmaceutical and biotech firms.
Jung Hee-kwon, chairman of the INNOPOLIS Foundation, said: "Bio deep tech can achieve greater results when companies work with specialized institutions throughout the process that runs from drug development to clinical trials and commercialization." He added that the foundation and KDDF "will provide multifaceted support so that pharmaceutical and biotech companies in the special zones can enter global markets."