Seoul has secured a foreign direct investment (FDI) of 15 billion KRW from Intuitive Surgical, the global leader in the surgical robot sector. The city announced on the morning of the 16th that an MOU was signed at the Seoul City Hall main conference room with Intuitive Surgical, focusing on increased investment and new employment.
According to the agreement, Intuitive Surgical will enhance the capabilities of the Surgical Innovation Center located in the Seoul Digital Media City (DMC) and hire an additional 100 personnel for new business initiatives. In support of this, the city will extend the center’s occupancy period from 2027 to 2032 by five years. Additionally, they plan to collaborate with the government to offer incentives for future research and development and other new business ventures according to related laws such as the Foreign Investment Promotion Act.
Intuitive Surgical is a U.S. company leading the field of minimally invasive surgical techniques and surgical robots, with their flagship product, the ‘Da Vinci’ surgical robot, widely used globally. Seoul established a partnership with the company in 2017 to set up the Surgical Innovation Center and has continued to nurture the relationship through incentives like designating a foreign investment zone and providing rent support.
Thus far, Intuitive Surgical has achieved results including 10 billion KRW in foreign direct investment and the creation of 149 jobs through the Seoul Surgical Innovation Center, while providing surgical robot training to 2,268 medical personnel. Last year, the company also donated a surgical robot to the Seoul Robot & AI Museum, offering the general public the opportunity to experience robotic surgery, reflecting their active social contributions.
With this increased investment, the Surgical Innovation Center is expected to significantly expand its capabilities beyond education to include research and development and new medical technology demonstrations.
Glenn Vavoso, Senior Vice President of Intuitive Surgical Asia, stated, “Through our collaboration with Seoul City, we will create quality jobs and contribute to the advancement of innovative medical technologies.”
Joo Yong-tae, Director of Economic Affairs at Seoul City, said, “This agreement is a testament to the investment environment and competitiveness of Seoul. We will continuously seek to attract global firms in future industries like quantum technology, AI, and robotics, to propel Seoul into becoming one of the world’s top five cities.”