Gyeonggi Province Partners with Luxembourg to Support Healthcare Tech Companies' Entry into European Market
Gyeonggi Province is moving forward with support for healthcare technology (healthtech) companies in the province to enter the European market, using Luxembourg as a gateway.
On the 25th, Gyeonggi Province held a 'Healthcare Tech Business Seminar for European Market Entry (Gateway to Europe: Luxembourg Healthtech Business Seminar)' at the Gyeonggi Bio Center jointly with the Embassy of Luxembourg in Korea and the Gyeonggi Province Economic Science and Technology Promotion Agency.
The seminar was held to support the European market entry of biotech and digital healthtech companies in the province by introducing the local market, industrial ecosystem, and market entry support environment, while creating opportunities for exchanges with related Luxembourg organizations. Approximately 30 participants attended, including Luxembourg officials and representatives from medical device and digital health companies in the province.
At the seminar, Gu Seon-mi, Commercial Counselor at the Embassy of Luxembourg in Korea, first introduced Luxembourg's support environment for entering the European market. Regis Cire, Head of the Healthtech Division at Luxinnovation, Luxembourg's innovation support agency, then introduced the Luxembourg healthtech and digital bio ecosystem, and Dr. Kim Hee-eun from the Luxembourg National Health Institute (LIH) explained the local health research environment and the role of the institution.
Following this, Nam Byeong-ho, CEO of Heryngs Co., Ltd., which has experience entering the Luxembourg market, shared his company's case of local market entry, providing information that companies in the province can reference when actually entering the European market.
After the seminar, exchanges and one-on-one business meetings took place between companies in the province and Luxembourg-related organizations. Six companies from the province participated in the meetings: △Noeul (AI-based in vitro diagnostics), △Eye Connectome (precision medicine/genomics), △Byner (digital health/wearables), △BioNexus (AI bio data platform), △6Letters (digital health/hormone monitoring), and △Julia Bionics (bio-health/medical AI). They introduced their technologies and business models to Luxinnovation and Embassy of Luxembourg officials, and discussed European market entry possibilities and local cooperation strategies.
Um Ki-man, Division Chief of Bioindustry, said, "For medical device companies to enter the European market, securing local regulatory and certification information and cooperation partners is important, and Luxembourg is well-suited as a gateway for European market entry with its healthtech industrial ecosystem and corporate support system." He added, "Taking this cooperation with Luxembourg as an opportunity, we will actively support the expansion of European market entry and local cooperation by medical device small and medium enterprises in the province."