As aging populations are increasing, the demands for better quality medical diagnostic and treatment are rapidly changing with cost-effective products and services in the medical device industry. However, manufacturing medical devices require significant financial and time commitments that do not always result in a guaranteed ROI Thus, most institutions shy away from initiating potentially great products as they prematurely deem them too much of a risk. To overcome these common problems, it is necessary to create an alternative manufacturing solution, which allows innovators to access world-class resources at no risk.

For this purpose, Gumi Electronics & Information Research Institute (GERI) is establishing a unique manufacturing program to collaborate with business partners in order to innovative products and services faster at a lower cost on a global scale.

GERI, a government-funded institute, is strategically located in Gumi, a globally recognized city for its many world-class manufacturing facilities and local hubs to global electronic companies, including Samsung Electronics and LG Display. The well-established infrastructures, the breadth of available testing and manufacturing equipment, and the skill of the local talent pool allow GERI to move at speeds rarely seen in business.

GERI completed a $110M national project to transform the existing ICT (Information & Communication Technology) industry into the one focused on electronic medical device innovations. As part of this initiative, we are recruiting global corporations or their R&D centers and innovators who are in need of high-quality manufacturing services or product development partners to commercialize and build out their solutions with a global footprint in mind.

In order to achieve the goal of transforming the electronic medical industry, Gumi city is offering business benefits and incentives to those partners who have a plan to relocate, setup a corporate branch, or R&D center in Gumi, Korea. Additionally, the local Korean government is offering various tax and grant incentives to foreign investors and companies that have the potential to contribute to Gumi’s economy.