Ajou University Medical Center said Monday it would build the “Gwanggyo Biohealth Park,” the nation’s first research and development center to be created by joint efforts of academic, research, industrial and medical communities. 

“The park is the first R&D center in Korea, located near the university hospital in Suwon, Gyeonggi Province, and will accommodate educational and research facilities as well as venture offices and living facilities,” the hospital said. “Moe than 40 biohealth ventures have shown an intention to move into the center.”  

The hospital will break ground within this year and complete the construction by December 2023. The R&D center will be three stories below and 10 above the ground with a total floor space of 11,700 pyong (38,610 square meters). 

Companies will be able to cooperate with the medical staff at Ajou Medical Center. By utilizing the hospital’s state-of-the-art medical support, the R&D center will accelerate the commercialization and clinical application of medical technology, the hospital said. 

“Gwanggyo Biohealth Park is expected to become the ideal R&D center where the university, R&D, industry and hospital can all benefit from one another, quickening the process from research to clinical trials of medical devices to commercialization,” a hospital official said. 

The hospital will strive to contribute to public health through medical development by making the most of the Fourth Industrial Revolution, the official added.