Seoul to Task a Pan-Government Team to Bolster Biotech

(Bloomberg) -- South Korea will task a new pan-government team to foster biotechnology into one of the country’s next growth engines, Yonhap News Agency reported, citing Finance Minister Hong Nam-ki.

The team, which will be led by a vice minister, will look at policy measures to help the industry with participation from ministries overseeing commerce, health, science and financial regulation, the news agency reported, citing Hong’s comments to a group of reporters in Washington.

The government plans to announce the set of policies to support the biotech industry within six months, Hong said, according to Yonhap.

To contact the reporter on this story: Kanga Kong in Seoul at kkong50@bloomberg.net

To contact the editors responsible for this story: Stanley James at sjames8@bloomberg.net, Anto Antony, Ryan Lovdahl

©2019 Bloomberg L.P.