Minister of SMEs and Startups Young Lee, signed an MOU on the successful establishment and operatoin of 'K-Bio Lab Hub' with about 30 institutions in the biopharmaceutical industry and Incheon Metropolitan City and Yonsei University at Yonsei University International Campus (Songdo, Incheon) on Mar. 22nd.

The 'K-Bio Lab Hub' is a project to build a world-class bio-startup infrastructure in Korea, such as "LabCentral" in Boston, USA to foster innovative startups in the medical and bio field.

Minister Lee said, “I would like to further develop the bio industry, a promising sector in the future, in Korea by establishing the 'K-Bio Lab Hub'.”
 
“It is essential to establish research facilities, equipment, and space to foster world-class startups, but above all, tangible and intangible assets such as experience, know-how, and networks of existing companies, academia, medical, and investment institutions are needed to blossom the bio industry,” she said, asking for active cooperation from related organizations.