Seoul Hongneung specialized R&D district earns top rating in 2024 annual evaluation

The Seoul Hongneung Specialized Research and Development District, jointly promoted by the Seoul Metropolitan Government and the Korea Institute of Science and Technology (KIST), has received the top "Excellent" grade in the 2024 annual evaluation of specialized R&D districts conducted by the Ministry of Science and ICT.

Focusing on the specialized field of digital healthcare, the Hongneung district has spent the past five years building a bio-cluster that fosters an innovation-driven startup ecosystem and boosts the economy. Leading the initiative, the Seoul Metropolitan Government, KIST, Kyung Hee University, and Korea University have worked together to support the full cycle from bio-healthcare R&D to the commercialization of research technologies and clinical trials.

Major initiatives have included technology discovery and commercialization through academia-industry-medical collaborations, venture support platforms for physician startups and hospital networks, technology startup scale-up programs such as the GRaND-K Startup School, and advanced R&D with regulatory innovation. These efforts have produced notable results, including 659 billion KRW in investment connections, 18.3 billion KRW in sales, 110 technology transfers, 76 new startups, and the establishment of 39 research-based companies.

Seoul invested 5.6 billion KRW of local funds into the district, contributing to a total 21 billion KRW project budget. Additionally, 156.3 billion KRW was committed to infrastructure development and operations, along with a 26 billion KRW bio-fund, enabling aggressive investments and comprehensive support.

For the second phase beginning in 2026, the district plans to leverage past achievements to launch venture studios, promote hospital-linked clinical technology commercialization, and expand open innovation with domestic and international partners, aiming to position itself as a global bio-cluster.

KIST President Oh Sang-rok emphasized, “The specialized R&D district is a strategic project that connects research, startups, and investment, enhancing national industrial competitiveness. Despite only five years of support, we already have world-class success stories such as Cureverse. Continued active and forward-looking government support is essential to sustaining results.”

Korea University Vice President Yoon Sung-taek added, “The bio-medical sector thrives through mutual cooperation and diverse channels. In the second phase, we will strive to establish connections and hubs with global institutions to realize the Global Medi Cluster.”

Kyung Hee University Vice President Choi Hee-seop stated, “Even within a short first-phase period, we achieved tangible results through organizational collaboration. For phase two, we will focus on differentiated strategies, inter-institutional cooperation, and governance expansion to create a collaborative bio-platform.”