On June 26, 2024, the Korea Ministry of SMEs and Startups (MSS) organized a series of events in Tokyo to strengthen Korea-Japan cooperation in the pharmaceutical and biotech sectors. The main event was the signing of a global R&D Memorandum of Understanding (MOU) between Korean bio SMEs and leading Japanese pharmaceutical companies, including Astellas, Maruho, and Ono Pharmaceutical. This initiative is a high-level follow-up to recent Korea-Japan summit diplomacy, aiming to foster practical outcomes through joint research and investment. The events also included the third Korea-Japan Bio Ecosystem Roundtable and the Korea-Japan Bio 2.0 Meetup, focusing on ecosystem development and collaboration strategies.
The policy targets Korean bio startups and SMEs, Japanese pharmaceutical companies, and venture capital firms. Japanese pharma firms, with annual revenues such as Astellas (KRW 18.9 trillion), Ono (KRW 4.5 trillion), and Maruho (KRW 860 billion), are seeking specific technologies for new drug development. The MSS will identify capable Korean bio SMEs to support joint R&D and commercialization. Venture capital firms like Global Brain (AUM KRW 2.5 trillion) and DCI Partners (Japan’s largest life science fund) are also involved, providing investment strategies and plans for Korean startups.
Implementation began with the MOU signing, where Japanese companies outlined their technology needs and MSS committed to systematic support for Korean SMEs. The roundtable facilitated discussions among government officials, pharma companies, VCs, and bio ventures on cooperation progress and strategies for connecting the Asian bio ecosystem to global markets. Notable collaborations include Youth Bio Global (Korea) and Human LifeCord (Japan), who signed an MOU for clinical trials and commercialization in October 2025. The Bio 2.0 Meetup featured reverse pitching by Japanese pharma and VCs, lectures on Japan market entry, and Korean bio venture IR sessions.
Frequently asked questions include: What are the main goals of the Korea-Japan pharma-bio R&D partnership? The partnership aims to create tangible outcomes through joint research, investment, and commercialization between Korean startups and Japanese pharma firms. How will Korean bio SMEs be selected for collaboration? The MSS will identify and support capable SMEs based on the technology needs presented by Japanese companies. What is the expected impact on the Asian bio ecosystem? The collaboration is expected to deepen Korea-Japan ties and contribute to the broader development of the Asian bio ecosystem, with ongoing policy and institutional support.
The Korea-Japan pharma-bio R&D partnership is a significant step in fostering regional innovation and practical collaboration. By involving major Japanese pharmaceutical companies and venture capital firms, the initiative provides Korean bio SMEs with access to global R&D and commercialization opportunities. The structured support from the Korea Ministry of SMEs and Startups, along with ongoing policy measures, ensures that the partnership moves beyond information sharing to tangible outcomes. This model could serve as a blueprint for broader Asian bio ecosystem development and cross-border investment.