Korean government to shell out KRW316 bn for bio tech
03-Feb-17, Business Korea
The Korean government will invest KRW315.7 bn (USD276 mn) to secure original technologies for bio sectors such as new drugs, medical devices, future medical care, genomics and brain science in 2017. A bio entrepreneurial ecosystem will also be created to commercialize secured technologies and strong support will be given to 'open innovation'.
%20Business%20Korea.jpg "Korean government to shell out KRW316 bn for bio tech (c) Business Korea")
Image: Business Korea
The Ministry of Science, ICT and Future Planning announced it will invest KRW262.6 bn for bio-medical technology development, KRW11.3 bn for post-genome projects and KRW41.3 bn for fundamental brain science technology development. This year's budget is 31.4% more than last year’s.
The government will shell out KRW24 bn to secure core technologies for the development of new-concept medical devices and technology development based on consortiums.