A man believed to be in his 20s is seriously injured in a stabbing in Koreatown early Monday afternoon.

Toronto police were called around 12:15 p.m. to a building in the Bloor Street West and Palmerston Avenue area.

When emergency responders arrived they found a man conscious and breathing, suffering from a stab wound to his upper body, Toronto paramedics said.

He was rushed to a trauma centre in serious condition.

Katrina Arrongante, a spokesperson for Toronto police, says investigators believe the victim was stabbed with a kitchen knife.

Police are searching for a male suspect believed to be in his 30s, with a short beard who fled the scene on foot, Arrogante said. He was last seen wearing a green camouflage jacket and a backpack, running east on Bloor Street W.