Thailand Pitches Medical Innovation Hub to South Korea Investors
Thailand pitched itself as a medical innovation hub to South Korean investors in Seoul, proposing joint ventures in biohealth and medtech sectors that would leverage South Korea's tech expertise and Thailand's biodiversity and market access
Deputy Prime Minister Yossakorn Wongswasdi led a Thai government delegation to Seoul on July 22, 2569, for the Thailand-Korea Business Forum focused on biohealth, medtech, wellness, and future food sectors. The delegation, which included senior officials from the Ministry of Higher Education, Science, Research and Innovation, aimed to attract investment and establish international innovation networks.
During his keynote speech titled "Driving Thailand Towards Medical and Wellness Innovation Hub," Yossakorn addressed executives from leading South Korean companies, emphasizing complementary strengths between the two nations. He noted that Thailand offers biodiversity, a growing market, and strong healthcare and wellness positioning, while South Korea leads in digital health, research and development, and manufacturing standards.
The collaboration framework encompasses four dimensions: establishing a Korea-Thai Joint Incubator/Accelerator with the National Innovation Agency (NIA), opening investment opportunities in Thai startups and joint ventures, conducting co-research with BOI incentives, and using Thailand as a technology localization hub to access ASEAN markets. The forum received strong response, with multiple South Korean companies expressing serious interest in investing in Thailand. Yossakorn invited executives and investors to visit Thailand later this year for business matching with Thai entrepreneurs, facility tours, and direct meetings with startups, venture capital firms, and Thai research teams.
