News and Updates on HD Hyundai

HHI Holdings Accelerates Investment in Digital Healthcare and Biopharma

Hyundai Heavy Industries (HHI) Holdings has formed an investment fund worth KRW 34 billion, together with Mirae Asset Financial Group, to discover and nurture promising startups in the digital healthcare and bio industries.
HHI Holdings announced on November 10 that it has jointly established with investment firm Mirae Asset Capital “Mirae Asset-HHI Holdings New Growth Investment Partnership No. 1.”

The fund, to be operated for a period 10 years, will be joined by Mirae Asset Securities; Mirae Asset Life Insurance; Daewoong Pharmaceutical; and Asan Foundation which operates Asan Medical Center.

Through the fund, the two parties intend to take a pre-emptive approach to discovering and investing in promising venture companies in digital healthcare and biopharma industries, such as telemedicine, digital therapeutics, and AI-based diagnostics.

Asan Medical Center also plans to provide cooperation in discovering and supporting companies with promising technologies.

In addition, the two parties expect open innovation with those companies to contribute to the revitalization of the business ecosystem of digital healthcare and biopharma industries and the creation of an ideal environment for startups to develop new technologies.

HHI Holdings views that the launch of the fund will place the company in an advantageous position to gain a foothold ahead of competitors in the rapidly growing digital healthcare market, providing new business opportunities.

“The market for digital healthcare and biopharma has great growth potential,” said an official of HHI Holdings. “Through the newly launched fund, we aim to nurture unicorn companies that will lead the relevant sectors and to actively explore new business areas.”

Since 2020, HHI Group has been expanding investment in new business areas featuring smart technologies, such as hydrogen, artificial intelligence (AI), and robotics, in a bid to transition to a technology-oriented group, as well as in health and bio industries, including digital healthcare.

In August 2021, Hyundai Future Partners, the investment arm of HHI Holdings and Asan Foundation acquired MediPlus Solution, a mobile healthcare solution company.

MediPlus Solution offers healthcare services for patients of the five most common cancers and chronic disorders through its mobile applications including Second Doctor and Second Wind.
Going forward, the digital healthcare service provider plans to cooperate with Asan Medical Center to advance and globalize its solutions in order to improve patient satisfaction.