Vice Minister Gi Jae: "Active Support for Investment in Healthcare and Biohealth"

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On the 3rd, Kim Yunsang, the 2nd Vice Minister of the Ministry of Economy and Finance, visited the Korea Institute of Science and Technology (KIST) in Seoul to tour the health and medical research and development (R&D) site and hold a meeting with representatives of companies in the health and medical sector.

Vice Minister Kim emphasized the importance of investment in the health and medical and biohealth sectors, which are directly related to the life and safety of the people and are representative future-oriented strategic technology fields, stating, "We plan to significantly expand the role of finance centered on medical reform tasks."

In particular, there are plans to greatly increase the R&D budget to strengthen the research functions of regional base hospitals and to build an advanced bio ecosystem. Through joint research with excellent overseas research hospitals, promising medical technologies will be secured early, and focused investment will be made in training clinical-research integrated professionals. A transition to a rapid and flexible business structure will also be promoted to solve health and medical challenges and to secure advanced bio technologies.

Vice Minister Kim said, "I listened to the requests of companies residing in the Bio Hub and will spare no comprehensive support needed on-site so that the public can feel the results of medical reform."

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