The government on Tuesday signed a memorandum of understanding(MOU) with the Bill and Melinda Gates Foundation to strengthen cooperation in healthcare.

Microsoft co-founder Bill Gates, who was on a three-day visit to South Korea, signed the MOU, while foreign minister Park Jin and second vice health minister Lee Ki-il signed it on behalf of the government.

Under the agreement, the two parties will seek deepened cooperation via private-public partnerships such as the Research Investment for Global Health Technology Fund and a strengthening of South Korea’s and the foundation’s leading roles in the international healthcare sector.

The two sides also agreed to work together to help lower- and middle-income countries foster their bio-healthcare experts in tandem with the World Health Organization’s designation of South Korea as a global bio-manufacturing training hub.

They will also enhance their joint research and development activities regarding vaccines, diagnostic devices and treatments as a way of contributing to the easing of global health inequalities.