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May 2, 2023 (BOSTON) – Northeastern University vice provost of research and economic development, director of bioinnovation, and co-lead of BioConnects New England (BCNE), Dr. Jared Auclair signed a Memorandum on Understanding with Korea’s WELT, a company that researches, developers, and commercialized products and services in healthcare.

The MOU, signed at last week’s Korea-US Digital Biohealth Business Forum in Boston, establishes cooperation in the digital healthcare, biopharmaceutical, and medical device spaces.

“It was an honor to represent Northeastern University and BCNE at this important forum that will strengthen ties and accelerate innovation between the US and Korea,” said Auclair. “WELT’s research and mission directly align with the initiatives of the University and BCNE.”

“It was meaningful to hold the forum in Boston, a symbolic place for global companies and the digital and biohealth sectors,” said Lim In-Taek, head of health and medical policy at the Ministry of Health and Welfare told Korea Biomedical Review. “We will do our best to support the successful entry of Korean companies into the U.S.”

According to Korea’s Ministry of Health and Welfare, the deals signed during the forum will generate more than $500.4 million in economic effects.