₩2.8 billion will be invested in AI drug development

₩527.8 billion in R&D including Pharmaceuticals

Welfare Department, Increases industry promotion support by 13% to 2020 budget

The government will greatly strengthen investment in innovation growth in the biohealth sector, which is called the future food industry, such as the pharmaceutical industry and increased the budget by 13% to ₩527 billion, and doubled the budget by building big data, new drug development platform, and support for the development of the pharmaceutical industry this year.

 

The MOHW responded to pending questions on the Korean Special Press Association.

 

First, this year's total budget is ₩82.5 trillion, an increase of 13.8% from last year.

 

Among them, the MOHW’s budget increased ₩1.35 trillion by 11.7%.

 

Looking at the biohealth sector, which includes pharmaceuticals, investment for innovation growth in the pharmaceutical, medical data, and medical device sectors will be greatly strengthened.

 

This year's major R & D budget for health care is ₩527.8 billion, up 13% from ₩466.9 billion last year.

 

The amount increased by 60.9 billion won.

 

The government will establish a new drug development platform utilizing the 4th Industrial Revolution technology and discover core experts in pharmaceutical and biotechnology.

 

The AI ​​drug development platform was set at ₩2.8 billion, up ₩300 million(11.1%) from last year's ₩2.5 billion.

 

In order to innovate biohealth technology, the budget of ₩15 billion was also reflected in the development of big data platform for genome and medical clinical information.

 

Bio big data development is a pan-government project in connection with the Ministry of Welfare, the Ministry of Science and ICT, and the Ministry of Trade, Industry and Energy.

 

In addition, the government invest ₩9.3 billion, will newly select and support five medical data-centric hospitals.

 

As the Advanced Renewable Bio Act comes into effect in August, a budget will be invested in establishing a regenerative medical safety management system.

 

The Ministry of Health and Welfare decided to reflect the budget of ₩1.2 billion to establish a clinical research system for rare and intractable diseases and to establish a safety management system.

 

In the case of medical devices, the MOHW decided to support R&D to commercialization and expand investment to strengthen industrial competitiveness.

 

A total of ₩30.2 billion was newly organized for full-cycle R&D development, and a budget of ₩8.6 billion was increased by ₩3.9 billion(82.4%) year-on-year to strengthen industrial competitiveness.

 

In addition, the cosmetics industry plans to raise ₩7.74 billion to support localization of materials and development of technology to respond to market diversification to foster sustainable future growth engines.