A demonstration of a robotic rehabilitation device takes place at an international medical device convention in southern Seoul, in this file photo taken Sept. 17, 2025. (Yonhap)
SEOUL, Nov. 5 (Korea Bizwire) — South Korea plans to invest more than 900 billion won, or about $622 million, over the next seven years to develop advanced medical devices that officials described as “game-changing,” the Ministry of Trade, Industry and Resources said Wednesday.
Under the initiative, which runs from 2025 through 2030, the government will allocate 941 billion won to hospitals, research institutions and medical technology companies to accelerate innovation in key sectors such as medical robotics, dental implants and next-generation molecular diagnostics.
The ministry said the program also aims to reduce South Korea’s dependence on foreign imports by localizing the production of 13 types of critical medical equipment deemed essential to national health security.
“This is a pan-government initiative to foster high-tech medical devices as a new growth engine for the nation,” the ministry said in a statement. “We will continue to work closely with the research community to ensure successful implementation.”
The effort builds on an earlier project that began in 2020 and is set to conclude this year. That program helped secure 433 domestic and international regulatory approvals, generated 185.2 billion won in cumulative sales and resulted in 445 patents across the medical device sector.
Officials said the new phase of investment reflects the government’s ambition to position South Korea as a global hub for advanced medical technologies amid intensifying competition in the health care industry.
Ashley Song (ashley@koreabizwire.com)
