Seoul: South Korea has launched a joint public-private initiative to collect biological data from 1 million individuals, aiming to enhance global competitiveness of the country's bio industry, the finance ministry said Wednesday.

According to Yonhap News Agency, the project will gather biological samples, such as blood, urine, and biopsies from participants, including those with rare and severe diseases, to create a large-scale dataset. This dataset will be shared with the medical community, academia, and industries, with long-term plans to make it accessible to the general public.

The first phase of the project, supported by 603.9 billion won (US$420.6 million) in state investment, aims to collect data from 770,000 people by 2028. The final target is to reach 1 million participants by 2032.

"This large biological dataset will enhance public health through personalized medical services and drive innovation in the bio industry," said Shin Sang-hoon, a ministry official, in a meeting with industry officials.

The government emphasized its commitment to collaborating with genetic analysis firms participating in the project, as well as helping bio companies strengthen their global competitiveness.