According to Yonhap News,

On April 16, Seoul-si announced that it successfully attracted an investment of KRW 15 billion from 'Intuitive Surgical,' the world’s leading company in the field of robotic surgery.

The city signed a Memorandum of Understanding (MOU) at Seoul City Hall on April 16 with Intuitive Surgical, a surgical robot company located in the U.S.A., focusing on a KRW 15 billion increased investment and new employment opportunities.

Intuitive Surgical is a pioneering company in the 'minimally invasive' care, utilizing robotic-assisted systems to make smaller incisions compared to traditional open surgery.

It is also the manufacturer of the 'Da Vinci' surgical robot.

Earlier in 2017, the city signed an agreement with the company regarding the establishment of a Surgical Innovation Center.

Through the Surgical Innovation Center located in the DMC Advanced Industry Center, Intuitive Surgical has been contributing to the development of domestic and international medical professionals and the economic growth of Seoul, including job creation.

Under this new agreement, Intuitive Surgical plans to enhance the functionality of the Surgical Innovation Center over the next five years, increase its investment in Seoul by KRW 15 billion, hiring 100 new employees.

The city will extend the company’s residency (2017-2027) at the Surgical Innovation Center for five years (2027-2031) to support its business activities.

Additionally, if the company pursues new projects such as research and development, the city plans to provide incentives through cooperation with the government under the Foreign Investment Promotion Act and other relevant laws.

Glenn Vavoso, Intuitive Surgical Senior VP and President of Asia Pacific, stated, "We will continue to develop innovative medical technologies in Korea and strive for further advancement based on our global leadership in robotic-assisted surgery."

Seoul Metropolitan Government Director-General of Economy Joo Yong-tae commented that "We will aggressively attract investments from global companies in emerging sectors such as quantum, AI, and robotics."



jsy@yna.co.kr

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Source: Yonhap News (April 16, 2024)

** This article was translated from Korean.