AstraZeneca has promised to invest $630 million into Korea’s biotech and healthcare sector over the next five years.
The drugmaker's investment, announced at the Korea-Sweden Business Summit, will be spent on R&D, better accessibility to innovative healthcare services, and quality jobs in the biohealth sector from 2020 to 2024.
AstraZeneca also signed a letter of intent with Korea Trade-Investment Promotion Agency (KOTRA) and Korea Biotechnology Industry Organization (KoreaBIO) with the goal of cooperating for open innovation and new drug development, providing consultations for start-ups, finding ways to utilize next-generation medical technologies using artificial intelligence or IoT and searching for opportunities for Korean firms to enter overseas markets.
Read the Korea Biomedical Review coverage.
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