"We will strengthen the cooperation framework between Korea-Japan startup hubs in advanced fields such as bio, AI and deep tech."
On the 25th, No Yong-seok, the first Vice Minister of the Ministry of SMEs and Startups (MSS), visited the Shonan I-Park bio cluster in Fujisawa, Kanagawa Prefecture, and the Tokyo global startup hub Cambridge Innovation Center (CIC) to inspect the sites and discuss cooperation plans.
The trip was part of a high-level follow-up visit to Japan under the Korea-Japan shuttle diplomacy framework and was arranged to build a cooperation structure for startups in advanced fields such as bio, centered on the two countries' innovation hubs.
In the morning, the Vice Minister met CEO Fujimoto Toshio at Shonan I-Park to discuss ways to link with the K-Bio Lab Hub being built in Songdo, Incheon (Yonsei University International Campus). Shonan I-Park, an open innovation hub created by Japanese pharmaceutical company Takeda, is a core platform for Korea-Japan bio cooperation where Korean bio ventures have produced tangible results such as research collaboration with Japanese pharmaceutical companies and global corporations. Since signing a memorandum of understanding with the Ministry of SMEs and Startups (MSS) in 2023, the partners have continued cooperation, and 10 Korean venture corporations are currently based there.
The two sides agreed to pursue program-centered cooperation until the K-Bio Lab Hub is completed in 2028 and to expand cooperation afterward by sharing research equipment and tenant space. As a first step, they discussed holding the Korean preliminary round of Shonan I-Park's pharmaceutical and bio startup discovery program "Innovation Tiger" in Songdo, Incheon.
The Vice Minister met with nine Korean bio ventures based in I-Park to hear updates on joint research and development (R&D) with Japanese pharmaceutical companies and difficulties in the commercialization process. The Vice Minister said, "We will strengthen support that leads to joint R&D and commercialization by reflecting on-the-ground feedback."
In the afternoon, the Vice Minister visited CIC Tokyo to meet with representative Tim Rowe and discuss cooperation with the K-Startup Hub being built around Hongdae in Seoul. CIC is a global startup hub with locations in major cities worldwide and operates open innovation programs that facilitate consolidation among startups, large corporations and investors. The K-Startup Center opened at CIC Tokyo in May 2024, and 24 Korean startups are currently based there.
The two sides agreed to gradually push global networking and investment consolidation programs focused on AI, beauty and fashion, and content and culture. The Vice Minister also met with six tenant corporations at the K-Startup Center to review their business status in Japan and future plans.
The Vice Minister said, "Korea-Japan startup cooperation is an important foundation for promoting cooperation that encompasses economic security and science and technology," adding, "We will expand cooperation among innovation hubs by field, including bio, AI and deep tech, to support the global expansion of domestic startups and the joint growth of the Korea-Japan startup ecosystem."