April 25, 2024
Bio
Korea to set up W113.5b fund for bio startups
[THE INVESTOR] South Korea will establish a 113.5 billion won (US$101.80 million) fund to nurture startups and venture firms in the bio sector, the Science Ministry said on March 27.
Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the fund will be floated to help young jobseekers launch new startups and develop new bio technology, the ministry said.
It will partner with the Small and Medium Business Administration and the Ministry of Trade, Industry and Energy to nurture the fund that is aimed at bringing more investment and creating more jobs.
The fund will focus on establishing infrastructure and help them in research and development, ministry officials said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
Under the comprehensive plan finalized during a government meeting presided over by Acting President and Prime Minister Hwang Kyo-ahn, the fund will be floated to help young jobseekers launch new startups and develop new bio technology, the ministry said.
It will partner with the Small and Medium Business Administration and the Ministry of Trade, Industry and Energy to nurture the fund that is aimed at bringing more investment and creating more jobs.
The fund will focus on establishing infrastructure and help them in research and development, ministry officials said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
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