Seoul Allocates 42.5 Billion Won for AI and Bio Innovation Ecosystem
Seoul is investing 42.5 billion Korean won to establish an AI and bio open innovation ecosystem, uniting various sectors for technology advancement. This initiative aims to enhance global competitiveness and improve healthcare through collaborative research and development.
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The Seoul Metropolitan Government has announced a funding allocation of 42.5 billion Korean won to develop an AI and bio open innovation ecosystem. This initiative aims to connect industry, academia, hospitals, and investment institutions to advance technology commercialization and collaborative research.
The Seoul Tech Summit, held on March 16, 2026, laid out plans to foster AI and bio as core industries, leveraging past R&D efforts that generated over 500 billion won in corporate sales and facilitated the entry of 23 companies into KOSDAQ. The summit featured discussions on quantum computing's role in drug development and showcased AI-based medical solutions from startups like D&Life. The proposed ecosystem is expected to bolster Seoul's position as a global technology leader while addressing challenges in healthcare innovation.
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