Ryu Gwang-jun, Head of the Science and Technology Innovation Headquarters, Visits Samsung Biologics

Explanation of Government Budget for Advanced Bio Sector and Industry Proposals Hearing

[Image source=Yonhap News]

The Ministry of Science and ICT announced that on the 25th, Ryu Gwang-jun, Director of the Science and Technology Innovation Headquarters, visited Samsung Biologics' biopharmaceutical manufacturing and production facilities and held a meeting with companies in the advanced bio sector.

The attendees discussed the government's research and development support directions and improvement measures for the advanced bio sector, and Director Ryu shared the national R&D budget proposal for next year and the current status of R&D investments in the advanced bio field. Among the government's budget proposal for next year, the scale of R&D support for the advanced bio sector is 2.1 trillion won, a 20% increase compared to this year.

At the meeting, Ryu Gwang-jun, Director of the Science and Technology Innovation Headquarters, emphasized, “Advanced bio is a game changer that will change the future and a new growth engine for Korea following semiconductors. For Korea to leap forward as a global bio powerhouse, cooperation between the government and the private sector is especially important.” He added, “To secure core technologies in advanced bio and to create an industrial ecosystem, we will continue to listen to opinions from the field and reflect them in government R&D policies and investments.”