KWEA, Hanwha Sign MOU to Advance Korea's Femtech

The Korean Women Entrepreneurs Association (KWEA) along with Hanwha General Insurance Company has entered into a memorandum of understanding (MOU) to collaborate on promoting the development of South Korea’s femtech industry and improving the competitiveness of women-run companies.

The agreement was made in the presence of Chairwoman Park Chang-suk of the Korean Women Entrepreneurs Association and CEO Na Chae-beom of Hanwha General Insurance, along with other officials from both sides. This MOU has been signed in Hanwha's Seoul office located at Yeouido in recognition of their common dedication to fostering female entrepreneurship and innovation of women’s technology.

Key Highlights:

• Hanwha and KWEA partner to accelerate Korea's femtech and women-led business growth
• Partnership will fund, mentor, and support global expansion of femtech startups
• Alliance expands women-focused finance, wellness, and entrepreneurship programs

Under this agreement, they will try to support the foundation of growth for female-led businesses, increase competitiveness of the femtech industry in Korea, and build a strong innovation ecosystem through strategic cooperation and industry collaboration.

In this partnership, the Korean Women Entrepreneurs Association and Hanwha General Insurance will be involved in selecting and mentoring high-growth local femtech ventures and helping them grow in the international market.

In addition, the partnership will offer financial programs that will contribute to the stability of the businesses run by women, insurance services specifically developed for women consumers, and funding programs that will contribute to innovation and growth in the femtech sector of South Korea.

This partnership will continue to promote women entrepreneurs by developing and offering training, exchange of information and networking platforms that will help develop their entrepreneurial skills. In addition to these efforts, both organizations will continue to work on developing wellness programs aimed at improving women’s health and promoting preventive care.

Chair Park Chang-suk described the partnership with Hanwha General Insurance as an important strategic step toward strengthening South Korea's femtech ecosystem, citing the company's Lifeplus Femtech Research Institute as a valuable source of expertise in women's health innovation.

She said the alliance would provide a strong foundation for domestic femtech enterprises to scale their businesses, accelerate innovation, and expand into international markets. Park also reaffirmed the association's commitment to supporting startups with differentiated technologies, enabling them to achieve global competitiveness while leading sustainable and innovative growth throughout the women's economic landscape.

"Collaboration with Hanwha General Insurance, which has the women's health research entity 'Lifeplus Femtech Research Institute,' will be a springboard for domestic femtech corporations to take a leap forward," adding, "We will spare no effort to help femtech startups with excellent technological prowess secure global competitiveness and lead innovative growth across the women's economic ecosystem." she said.