Seoul: The Republic of Korea has announced a groundbreaking public-private collaboration to amass biological data from 1 million individuals by the year 2032. This initiative aims to bolster the global competitiveness of Korea’s bio industry, as confirmed by the finance ministry on Wednesday.
According to Lao News Agency, the initiative will involve the collection of biological samples such as blood, urine, and biopsies from participants, including those suffering from rare and severe diseases. The collected data will form a comprehensive dataset, which will be made available to the medical community, academia, and industries. There are also long-term plans to eventually provide access to the general public.
The project’s first phase is backed by a substantial state investment of 603.9 billion won (approximately US$420.6 million), with a goal to collect data from 770,000 individuals by 2028. The ultimate aim is to reach a total of 1 million participants by 2032.
Shin Sang-hoon, a ministry official, stated at a meeting with industry officials that this extensive biological dataset is expected to enhance public health through personalized medical services and foster innovation within the bio industry. The government reiterated its commitment to collaborating with genetic analysis firms involved in the project and aiding bio companies in strengthening their global market presence.