Up to 600 Million KRW Support for Digital Breeding Transition to 20 Seed Companies
Ministry of Agriculture, Food and Rural Affairs Supports Digital Seed Development for Seed Companies
Shifting Goal from 6 Years of Molecular Breeding to 3 Years of Digital Breeding
[Sejong=Asia Economy Reporter Moon Chaeseok] The government announced that it will provide up to 600 million KRW in digital breeding transition support funds to 20 domestic seed companies. The plan is to help seed companies engage in variety improvement using digital technology.
The Ministry of Agriculture, Food and Rural Affairs stated on the 4th that it will support digital breeding consulting and professional analysis fees. This year, 20 seed companies will be selected and will receive support ranging from 10 million KRW to 600 million KRW.
The digital breeding transition project is a program under the Seed Industry Act that supports businesses in utilizing the latest digital breeding technologies from this year through 2025. A budget of 18.5 billion KRW (10 billion KRW in national funds and 8.5 billion KRW in self-funding) will be invested over five years.
An official from the Ministry of Agriculture, Food and Rural Affairs explained, "Through this project, the breeding period is expected to be reduced from 6 years to 3 years, and the commercialization rate of cultivated varieties is expected to increase significantly from 5% to 50%."
Seed companies can submit their business plans and other documents to the Seed Industry Promotion Center of the Korea Seed & Variety Service by the 19th. The Ministry plans to finalize the supported companies on the 26th after document screening and presentation evaluations on the 22nd and 23rd.
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Kim Minwook, Director of the Seed Life Industry Division at the Ministry of Agriculture, Food and Rural Affairs, said, "We encourage companies interested in transitioning from traditional breeding to digital breeding to participate in the call for applications. We will actively support efforts to reduce the technology gap with global companies by utilizing core digital breeding technologies."
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