Aju Business Daily

SEOUL -- The South Korean government has started the demonstration of a joint plant that would help small and medium-sized companies to develop and manufacture 3D-printed medical devices such as artificial joints. The plant would cut manufacturing costs and time.

The Ministry of SMEs and Startups said that the plant was tested at a special regulation-free zone for the country's health industry in Daegu some 240 kilometers (149 miles) southeast of Seoul on January 4. University teams and companies will work together to create top-notch medical devices.

The project is designed to test the joint manufacturing platform and commercialize developed products. The plant involving 12 SMEs uses 3D printers to create medical devices that will be tested for government approval in the first half of this year.

Previously, it's hard for SMEs to enter the medical device market due to strict regulations that required companies to operate state-verified manufacturing plants and specialized personnel for quality control. The startup ministry said that data accumulated during the demonstration will later be used to set guidelines and strategies for future industries.