S. Korea to deregulate biotech sector, bolster 'science diplomacy'

SEOUL, April 21 (Yonhap) -- South Korea will ease regulations in its biotech industry and develop ways to use carbon elements as an alternative energy source, the government announced Thursday in a package of comprehensive plans to help the nation find a new growth engine. It also plans to bolster "science diplomacy" to meet the country's stature as a science and technology power, according to the master plan reported to President Park Geun-hye. Park presided over a session of the Presidential Advisory Council on Science & Technology, the 33rd of its kind, at her office Cheong Wa Dae. She chairs the panel launched in 1991. More than 140 top government officials, scientists and other related figures attended the meeting. They took note of the great potential of the biotech sector, citing the success of Hanmi Pharm Co. based in Seoul. South Korea aims to raise its global market share to at least 5 percent by 2025 from 1.3 percent recorded in 2012. For that, the government will try to put its regulatory system on par with those of advanced nations and support the launch of globally competitive biotech startups, said the Ministry of Science, ICT and Future Planning. In particular, the government will seek to remove some regulations on "biobanks" that share human tissue or blood samples for stem cell research purposes. It will also push for the abolition of the limit to the scope of gene treatment research and promote the digital health industry, while lowering the barrier for commercializing new medical devices. In the energy field, the government will redouble efforts to deal with a drastic reduction in greenhouse gas emissions. South Korea has set the goal of cutting its emissions by 37 percent from business-as-usual (BAU) levels by 2030, which would be 310 million tons. The reduction is expected to add financial burden to major local industries such as petrochemical and steelmaking firms. "That's a reason why we need to secure methods to additionally slash greenhouse gas emissions," the ministry said, adding it would actively explore ways to use major elements of gas, including carbon dioxide and methane, as a new energy source. On science diplomacy, the government will try to take the initiative in various international research projects on global affairs and strengthen partnerships with other countries in the field, said the ministry. lcd@yna.co.kr (END)