President Yoon: "Establishing Bio Sector Fund... Strengthening Financial Support"

Attendance at the 2022 World Bio Summit Opening Ceremony... Mentioned "Need for Solidarity and Cooperation Beyond Borders"

President Yoon Suk-yeol attended the opening ceremony of the '2022 World Bio Summit' held at the Walkerhill Hotel in Seoul on the afternoon of the 25th.

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol stated on the 25th, "We will establish an innovative research and development system for diseases that humanity has yet to solve and create a bio investment fund to strengthen financial support."

At the opening ceremony of the '2022 World Bio Summit' held at the Walkerhill Hotel in Seoul that afternoon, President Yoon said, "As a WHO bio workforce training hub country, we will support the vaccine and bio production capabilities of various countries."

The Bio Summit is the first international event jointly hosted by the Republic of Korea and the World Health Organization (WHO). It holds significance in preparing for common human risks such as new infectious diseases by discussing ▲ cooperation for the development of vaccine and bio technology and industries beyond borders ▲ solidarity and cooperation measures for equitable access to essential medicines for all countries, and establishing a shared vision.

At the event, President Yoon emphasized the need for solidarity and cooperation beyond borders to prepare for common human issues such as new infectious diseases and pandemics. He said, "The groundbreaking development of bio technology and industry can lead humanity to a safer and healthier life."

He also stressed, "We must all remember the lesson of solidarity and cooperation beyond borders to prepare for crises of other infectious diseases and health emergencies." He added, "Solidarity and cooperation between countries based on a shared vision, along with technological innovation, will protect the health of global citizens and bring prosperity to humanity."

He also announced plans to expand official development assistance (ODA) support in the health and medical sector. President Yoon said, "Since our government took office, we have maintained fiscal soundness through expenditure restructuring while expanding ODA support in the health and medical sector," adding, "We are increasing contributions to strengthen the global health system, pledging $300 million to the ACT-A initiative, $100 million to the Global Fund to Fight Three Major Infectious Diseases, and $30 million to the World Bank’s financial intermediary fund."

This content was produced with the assistance of AI translation services.