The Korea Health Industry Development Institute (KHIDI) has inked a memorandum of understanding (MOU) with the Medical Research Council (MRC), part of the U.K.’s Research and Innovation (UKRI).
UKRI, overseeing an impressive budget of approximately 14 trillion won ($11 billion) as of last year, functions as the umbrella organization for nine research and funding agencies within the U.K.
Among its constituents, the MRC stands out as a leading R&D funding body, established in 1919 and boasting contributions to the careers of 32 Nobel laureates, thus playing a crucial role in advancing global biotech and health research.
The newly forged partnership between KHIDI and MRC aims to bolster information exchange, network building, and researcher exchanges in health care, further enhancing collaborative efforts in R&D.
Both organizations have identified artificial intelligence (AI), digital health, and regenerative medicine as key areas for synergy and focused cooperation.
This MOU not only strengthens ties between Korean and British researchers but also opens doors for more comprehensive research collaborations with other UKRI institutions, such as the Biotechnology and Biological Sciences Research Council (BBSRC) and others within the U.K.'s innovation ecosystem.
Already, KHIDI has been collaborating with three UKRI institutions, including MRC, on pilot projects in digital health R&D since last year.
“This MOU extends the biotech and health research platform between Korea and the U.K., fostering exchanges between researchers and promoting interdisciplinary research,” KHIDI Director General for Health R&D and Innovation Kim Hyun-chul said. “Ultimately, it is expected to elevate the level of biotech and health research in both countries, driving innovation in the health industry and contributing to the improvement of global health."
MRC Executive Chair Patrick Chinnery also said, “Recently, there has been significant attention on investments and growth in Korea's life sciences sector, following successful collaborative research support between Innovate UK, MRC, and the KHIDI.”
Particularly, the similar disease patterns between the two countries underscore the importance of continued cooperation between MRC and KHIDI, Chinnery added.
Chinnery stressed that with this memorandum of understanding as a milestone, there is anticipation for enhanced R&D collaboration in health care not only between KHIDI and MRC but also with various institutions under UKRI.