Invest KOREA

According to Yonhap News,

(SEOUL=Yonhap News) Global pharmaceutical and biohealth firm Johnson & Johnson opened a new "partnering office "in Seoul to support emerging entrepreneurs and biotech businesses, company officials said Monday.

The office was established at Seoul Bio Hub, located in northern Seoul and sponsored by the Seoul Metropolitan Government, the company said.

"It is an honor to open the first partnering office in South Korea,” said Dong Wu, head of Johnson & Johson Asia Pacific, adding that the office would serve as an opportunity to support and develop the local bio industry.

The pharmaceutical giant currently operates four innovation centers -- located in Boston, California and London -- in an effort to support and invest in biotech startups and further collaborate with academic institutions.

The Seoul center will serve to connect startups, universities and research institutions as the company is committed to open innovation and collaboration that is necessary to tackle urgent unmet medical needs.

The Seoul Bio Hub is the only biotech startup platform located in Seoul. The hub aims to speed up the commercialization of technology and establish cooperative networks between local and foreign institutions.

By Kim Han-joo

khj@yna.co.kr

Copyrights Yonhap News.

All Rights Reserved.