South Korea plans to invest hundreds of billions of Won to promote stem cell research next year

South Korea will spend more than 100 billion Won (1,148 Won is about one dollar ) on stem cell research next year and set up a national stem cell bank, the government announced in 20th.

The government says the investment will be shared by the ministries of education, science and technology, health and welfare, knowledge economy, agriculture, forestry and food. The total investment is nearly doublely higher than this year's level, and the budget will be submitted to parliament next month.

We are known that this money will be used to develop core stem cell technologies, advance clinical trials, test the safety and effectiveness of stem cell therapies, train researchers and expand infrastructure. In addition, the government of South Korea will set up a "national stem cell bank" to promote the standardization of stem cell production, preservation and management, and establish a system to effectively provide technical services.

The move is seen as an effort by the south Korean government to regain its reputation as a great power in stem cell research. South Korean President lee myung-bak said his country was a world leader in stem cell research with the United States more than a decade ago, but that "a regrettable incident" had crippled the country's stem cell research.

In 2005, two groundbreaking studies on stem cells by south Korean scientist hwang woo-suk have been identified as fake, causing a stir in world academia. South Korea human embryonic stem cell cloning research came into a total standstill for a time.

According to the report, South Korean researchers have reportedly developed stem cell treatments for acute myocardial infarction, spinal fractures and dementia, some of which have been approved for clinical trials.
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