Korea increases healthcare R&D investment

[Courtesy of Ministry of Science and ICT]

South Korean tech regulators will invest 2.2 trillion won ($1.59 billion) in healthcare technology research and development (R&D). The investment will be vital in developing treatments for patients with mental health disorders, welfare technologies for the elderly and disabled, and fertility treatment options.

The investment was part of the action plan that the Ministry of Science and ICT announced for healthcare technology support in 2024.

According to the action plan, the government aims to expand R&D investments focusing on a national project equivalent to the U.S. Advanced Research Projects Agency for Health (ARPA-H). In addition to increased investments, more emphasis will be placed on expanding global collaborative research to achieve world-leading positions and establish research cooperation networks with countries that are leading the bio sector.