Korea's government has unveiled plans to invest $14.3 billion into the country's biotech industry to support research and commercialization efforts. Korea's goal is to push the biotech industry to become a $60 billion market by 2016. The government wants to integrate biotech work with advances in genomics, information technology and nanotechnology. There are also plans to provide clear ethical oversight to make sure there's no repeat of the recent humiliating scandal over faked research by Hwang Woo-suk.
- here's the report from The Korea Times