South Korea's Ministry of Science and ICT said on Sunday that HandaLab, a Daedeok R&D special zone lab company, recently joined U.S. strategic metals supply chain specialist EMA as a strategic subsidiary implementing key processes using AI automation technology, marking an entry into the Nasdaq market.

HandaLab is a deep tech company in the AI-based smart factory sector. The ministry said it has built a technology commercialisation support system centred on special R&D zones and stressed that HandaLab grew within that system.

The ministry said it supported the establishment of the lab company in HandaLab's early days through a project to identify technologies and provide linkage support aimed at promoting the commercialisation of outstanding public technologies. It later supported development of core technologies and securing patents through the Lab Company Capacity-Building Programme (R&BD).

Founded in November 2021, HandaLab grew on the back of support from the special R&D zone in 4 years and 2 months to become the first special zone company to enter the Nasdaq market, the ministry said. HandaLab will take part as a key partner applying AI automation technology to a rare metals supply platform while maintaining its independent corporate status.

The ministry said it plans to foster special R&D zones as key hubs for revitalising regional start-ups and commercialisation and building regional innovation ecosystems, based on sharply increased programmes including the special R&D zone promotion project.

Gu Hyeok-chae (구혁채), first vice minister at the Ministry of Science and ICT, said it was the first case of a special R&D zone lab company making a leap through Nasdaq with government support. He said the ministry would continue to identify and nurture deep tech lab companies to strengthen a virtuous-cycle ecosystem in which public research results lead to start-ups and global expansion.