The two organizations will jointly identify promising pharmaceutical and biotech firms and provide tailored support across clinical trials, commercialization and overseas expansion.

Jung Hee-kwon (left), chairman of the Research and Development Special Zone Foundation, and Park Young-min, project director of the Korea Drug Development Fund, pose for a photo after signing an MOU. [Research and Development Special Zone Foundation]
Jung Hee-kwon (left), chairman of the Research and Development Special Zone Foundation, and Park Young-min, project director of the Korea Drug Development Fund, pose for a photo after signing an MOU. [Research and Development Special Zone Foundation]

South Korea is set to strengthen full-cycle support for promising pharmaceutical and biotech companies, covering drug development, clinical trials, commercialization and entry into overseas markets.

The Research and Development Special Zone Foundation signed an MOU with the Korea Drug Development Fund (KDDF) on Monday at the Westin Josun Hotel in Seoul to bolster the country's pharmaceutical and biotech innovation ecosystem.

The agreement is designed to combine the Special Zone Foundation's expertise in commercializing public-sector technology and supporting company growth with KDDF's drug development know-how and domestic and international networks.

The two organizations plan to jointly identify promising pharmaceutical and biotech firms and link them to tailored support programs at each stage of growth, from drug development and clinical trials through to global market entry.

Particular focus will be placed on expanding the growth base for biotech deep tech companies that have strong technology but struggle with clinical trials, commercialization and overseas expansion.

The first joint project will launch alongside the MOU signing. Companies based in research and development special zones will be connected to the 2026 KDDF CPG Symposium, hosted by KDDF, where they will have access to one-on-one partnering opportunities with global pharmaceutical companies.

Through this, the two organizations aim to help domestic biotech firms explore possibilities for co-development and commercialization partnerships with overseas pharmaceutical companies.

The two organizations plan to expand joint support initiatives for the global commercialization and overseas market entry of promising pharmaceutical and biotech companies going forward.

"In biotech deep tech, greater results can be achieved when the right specialized institutions and companies are connected at the right time throughout the drug development, clinical trial and commercialization process," said Jung Hee-kwon, chairman of the Special Zone Foundation. "We will actively support pharmaceutical and biotech companies in special zones as they make their leap into global markets by combining the core capabilities and networks of both organizations."


nbgkoo@heraldcorp.com