The Ministry of Health and Welfare and the Korea Health Industry Development Institute (KHIDI) said on the 6th that they will invite applications from corporations to carry out the "2026 K-biohealth global expansion support project (K-VIP)" to help domestic biohealth corporations expand into overseas markets and strengthen export competitiveness.
The project was prepared to strengthen the overseas expansion capacity of pharmaceutical and bio, medical device (including in vitro diagnostics and digital medical devices), and cosmetics corporations in response to tighter approval and licensing regulations in major markets such as the United States and Europe, instability in global supply chains, and changes in the trade environment.
The ministry and KHIDI said they expanded existing projects, added new tasks, increased the budget related to support for global expansion and exports, and strengthened support that corporations can tangibly feel.
This year's detailed projects open for applications consist of: ▲ support for entry into global cluster hubs ▲ specialized consulting for global expansion ▲ support for global regulatory response expense ▲ support for global marketing expense ▲ activation of global open innovation ▲ support for global education and training for medical devices.
They will support the foundation for local entry by leveraging the global cluster hub established in Boston, the United States, and subsidize specialized consulting expense for overseas certification and strategies related to legal affairs, tax, patents, tariff, and distribution.
A new program to support regulatory response expense for U.S. and European approvals and licenses will be introduced to reduce early market entry risks, and marketing expense for technology marketing, local research, and global cooperation will also be supported.
The project also includes tasks that provide step-by-step support for technology development and commercialization for domestic corporations collaborating with global corporations. A medical device education and training program for overseas medical professionals will also be introduced for the first time this year.
Corporations and institutions wishing to participate can check the project announcement on the KHIDI website, and applications will be accepted online until 4 p.m. on the 26th.