(image: Korea Bizwire)
SEOUL, Jan. 3 (Korea Bizwire) – South Korea will funnel 559.4 billion won (US$438.4 million) into research and development of core bio technology in 2023 in line with the country’s long-term strategy to lead the up-to-date digital-biotech sector in the future, the science ministry said Tuesday.
It is a part of the government’s 2023 budget plan to invest a combined 6.7 trillion won into science research released earlier this week, according to the Ministry of Science and ICT.
The ministry said 57.1 billion won is set aside for development of new treatment, medical equipment and regenerative medicine, and 251 billion won will be spent in R&D of future bio technologies, like biomimetics and synthetic biology, and the project to establish a big data center for biological materials.
The government will invest 139.4 billion won in promoting public health by developing technologies for prevention and treatment of infectious diseases, Alzheimer’s and brain disorders.
The ministry said its investment is aimed at accelerating the integration of digital technology into areas of the bio industry, which is the newest paradigm to increase efficiencies in technology transfers and manufacturing process development by using big data or artificial intelligence.
(Yonhap)
