South Korea is an attractive destination for producing high-quality products at competitive prices. It hopes to see more proactive efforts in seeking global collaboration opportunities.
Kim Eun-ha, Head of Strategy and Innovation for Johnson & Johnson MedTech in North Asia, expressed a positive view of the South Korean medical device market on a global scale. However, she suggested that domestic companies need to adopt a more proactive approach to attract foreign investments and partnerships.
On March 20, the MedTech Spotlight: New Impact Korea 2026 event was held at the Sono Felice Convention Center in Gangnam, Seoul. This open innovation event aims to foster collaboration between global companies, investors, medical institutions, and domestic medical device firms.
This program, the first of its kind in South Korea, is a collaboration with MedTech Innovator APAC, the largest medical device accelerator in the Asia-Pacific region. The Korea Medical Devices Industry Association co-hosted the event, with sponsorship from Korea International Medical & Hospital Equipment Show (KIMES 2026) organized by Korea E&Ex.
The previous day, March 19, featured pre-event 1:1 coaching sessions and a gathering with judges at the Convention & Exhibition Center (COEX). The main event day included a discussion-style pitching event followed by a global conference.
The conference shared market analysis insights crucial for global commercialization, including collaboration strategies with global companies and investors, and strategies for entering the U.S. and Asia-Pacific markets.
Kim Eun-ha stated that they’re seeking partners in precision medicine for personalized surgeries, moving beyond the one-size-fits-all approach of the past. Korea’s excellence, already recognized in information technology (IT), is well-known in medical devices. Many global companies are eyeing Korea as a potential partner.
She added that it aims to establish partnerships to market and sell existing products using our expertise. The goal is to collaborate with companies that have strong technologies. Domestic company representatives listened intently, visibly engaged by her words.
The session also included perspectives on collaboration strategies from investors. Jade Jung, a senior associate at Kakao Ventures, advised to don’t shy away from meeting potential partners, even if you feel unprepared. Companies don’t make snap judgments; they want to hear your vision.
She emphasized that persistence is key – don’t expect immediate results. The importance of networking cannot be overstated. Building relationships with industry leaders is crucial.
The discussion then turned to U.S. market strategies. Ron, a director at BeaconOne Healthcare Partners, stressed that plan 12 to 14 months ahead of the target timeline. Timeliness is critical. Approach the market strategically and confidently.
He also highlighted the importance of building relationships with customers and physicians to understand the U.S. hospital system.
Following the discussions, participants networked over dinner at the K-BIC Venture Cafe.
A domestic company representative remarked that it was invaluable to see global medtech leaders gathered here in Korea. As the industry shifts towards open innovation, it hopes today’s event sparks meaningful partnerships.
The event recognized three companies from the previous day’s discussions: Prevenotics won the Medtech Momentum Award, olive healthcare received the Medtech Innovation Award, and u2medtek secured the New Impact Korea Award.