“Unveiling the Dark Secrets: The Startling Collaboration between South Korea and the US to Build a Startup Empire.”

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During a recent visit to the US by the South Korean President Yoon Suk Yeol, a number of agreements were signed between Korea and the US, including the Washington Declaration. Investments totaling $5.9 billion and 50 business deals were secured. The two countries agreed that Korea had achieved elevated status over the past 70 years, and that they have a strong bilateral alliance. The “Korea-US Cluster Roundtable” held in Boston focused on cooperation between Korean and US startups. The Boston area is home to some of the world’s leading research and development facilities and offers the K-Bio Lab Hub an ideal opportunity to expand. Construction work on the K-Bio Lab Hub, which aims to facilitate the innovative growth of startups through a one-stop-service with academia, large hospitals, research institutes, and anchor companies, is scheduled for completion by 2025. The endeavour has a 270 billion won ($202 million) investment on a 40,000-square-meter site. Cooperation between Korean and US biotech clusters is also expected to strengthen as a result of the visit. A memorandum of understanding was signed between Incheon City and over 30 organizations, including Yonsei University. A number of additional agreements were signed between key members of the Boston cluster, including Massachusetts General Hospital and global bio-startup incubator LabCentral.

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