KWEA, Hanwha back Women-Led Femtech Startups

By: Women Entrepreneurs Review Team | Monday, 27 July 2026

As a strategic attempt to develop space of women-led innovation in South Korea, the Korean Women Entrepreneurs Association (KWEA) has formed a strategic alliance with Hanwha General Insurance in order to promote femtech development and support women-owned businesses in South Korea. The strategic partnership has been strengthened by signing a memorandum of understanding (MOU) at the Seoul office of Hanwha General Insurance Company.

The signing ceremony was presided over by Association Chair Park Chang-suk and CEO Na Chae-beom of Hanwha General Insurance on July 24, along with other important officials of the two companies. Through this partnership, the partners would collaborate in order to increase the number of possibilities for women enterprises, improve the competitiveness of the femtech sector, and develop an environment for innovation and growth.

Key Highlights:

• Hanwha and KWEA to strengthen Korea's women-led innovation ecosystem
• New MOU boosts funding, insurance, and global opportunities for femtech firms
• Partnership enhances women's health innovation and startup competitiveness

The joint venture will formulate an elaborate plan for speeding up the development of the femtech industry in South Korea through the discovery of potential women-led startups that have excellent commercial prospects. Apart from assisting such ventures in expanding their business across borders, the two organizations will develop financial assistance plans that are specifically aimed at facilitating women, as well as developing insurance products for women clients.

In addition to business development, the partnership will also focus on creating new education and networking platforms that will help women entrepreneurs develop the necessary skills, access to resources, and contacts within the industry to ensure sustainable growth. In addition, both partners will also collaborate to launch wellness programs that will improve the health of women and the quality of their lives by integrating femtech technology.

According to Park Chang-suk, the partnership with Hanwha General Insurance and the Lifeplus Femtech Research Institute will open up possibilities for the femtech sector in the country to develop. She said that the combination of scientific knowledge with the entrepreneurial spirit can help the Korean firms become more competitive internationally.

According to Park, the association is going to keep investing in projects that will help technologically innovative firms develop, innovate, and play an important role in the development of the women’s economy of the future.

"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.