Seoul: Acting President Choi Sang-mok emphasized the transformative potential of biotechnology for the economy, highlighting the necessity of collaboration between the private and public sectors to advance the industry. Speaking at the inauguration of a new government-led committee dedicated to the biotechnology sector, Choi stated that biotechnology holds the promise of reshaping the economic environment.

According to Yonhap News Agency, Choi underscored the critical role of joint efforts from the government and industries to push forward a strategy that demands significant changes. The government's initial step in this strategy involves reorganizing the biotechnology infrastructure and revising related regulations to simplify processes, as confirmed by the finance ministry.

The government, in collaboration with research agencies, plans to gather and manage over 10 million bio data entries on a specialized platform by 2035. Additionally, advanced technologies like artificial intelligence will be incorporated into the biotechnology sector to explore innovative areas such as personalized treatments.

Choi expressed optimism that fostering biotechnology as a new growth engine is vital for the economy's advancement. He hopes the newly formed committee will act as a pivotal force in driving the next phase of economic development.