South Korean health care company Boryung has launched a global space initiative to advance human activities in space with industry-leading partners, the company said Tuesday.

Boryung has joined hands with Axiom Space, a US commercial space station developer, and the Space Exploration Initiative, a research institute at the Massachusetts Institute of Technology, for the Humans in Space program.

The HIS program marks the second global-scale space project for Boryung, after the South Korean health care firm co-hosted the "Care in Space" challenge last year with Axiom Space. Boryung eventually invested in six teams from the challenge, which was staged as a worldwide competition to accelerate the development of space health care products.

Boryung said this year's HIS challenge has added two new priorities -- lifestyle and platform in space -- on top of last year's health care in space. The company explained that the additions seek to expand space research and development to areas of daily factors in human life in space and applying space features to life on Earth.

According to Boryung, the HIS challenge will accept applicants until July 28 on the CIS competition's website. Winners of the challenge will be selected later this year through a paper review process and online competition. Final winners will be announced at a demo-day presentation during the symposium slated for October. NASA, the European Space Agency and Harvard University will be among the participants in the HIS challenge's review and speakers at the symposium.

"Through this Humans in Space program, we will strengthen our network with global partners and expand the space health care ecosystem," said Lim Dong-joo, head of Boryung's new portfolio investment group. "With this opportunity, we will take a leap toward becoming a global new space leader and a step closer to Boryung's goal to be an essential company for human health."

In March this year, Boryung signed an agreement with Axiom Space to establish a joint venture in an effort to speed up its space business expansion. Boryung has invested $60 million in Axiom Space.