State-run Export-Import Bank of Korea (Korea Eximbank) announced Monday it is launching a fund that will mainly invest in healthcare, medical and biopharmaceutical firms to back their global stretch and upscaling.

Korea Eximbank will put up 100 billion won ($81.7 million) and pool others in for the fund worth 400 billion won designed to invest in the fields like immunotherapy, gene therapy, medical system and equipment, and diagnosis kit.

Of the initial investment, 25 billion won will be used to form a separate fund to incubate promising ventures.

“Korea’s superior diagnosis kit, medical system and ICT-based disease modeling has gained global attention due to the virus pandemic,” said Bang Moon-kyu, chairman & president of Korea Eximbank. “The new fund will boost investment in the bio industry to keep up the winning momentum.

By Kim Gang-rae and Lee Ha-yeon

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