South Korea will build an AI drug discovery research system that links AI models with automated laboratories to identify and validate drug candidates. The Ministry of Science and ICT said it launched a pilot task force in Daegu to operate an AI-based innovation hub for synthetic drugs. The approach feeds experimental results back into model training. Kyungpook National University leads the project with partners including its hospital, the Daegu-Gyeongbuk Medical Innovation Foundation and Univab.

IBK Industrial Bank of Korea is working with South Korea’s Education Ministry and nine regional national universities to support commercialisation of university-held innovative technologies and foster regional startups. The bank signed a multilateral agreement on July 28 to promote technology transfer and business development and to support the growth of university startups. It will build a cooperation framework for investment links and identifying promising local firms, and pursue matching commitments to a dedicated fund for research- and technology-based startups.