"Synthetic Biology" that Moderna used

The government supports the creation of laws

The Ministry of Economy and Finance discusses the agenda of the plan to secure new growth export engines

Deputy Prime Minister Choo Kyung-ho

The Act on Research Promotion and Support for Synthetic Biology' proposed legislation in the first half of next year.

 

Support measures will be prepared for Synthetic Biology, which is evaluated to double the efficiency of research and development of innovative new drugs and materials.

 

Deputy Prime Minister for Economic Affairs and Minister of Strategy and Finance Choo Kyung-ho presided over an emergency economic ministers' meeting at the Seoul Government Complex on the 1st and discussed plans to secure new growth engines such as bio.

 

Considering the characteristics of Synthetic Biology, which is accompanied by innovation and risk, the government will propose a new law in the first half of next year to promote technology development and manage transparency at the national level.

 

The name of the bill is the 'Act on the Promotion and Support of Synthetic Biology Research'.

 

The government has decided to prepare a "National Synthetic Biology Initiative" this month to create a bio-innovation ecosystem based on Synthetic Biology and to respond strategically to global technology hegemony competition.

 

This will include a comprehensive policy direction from a long-term perspective that encompasses R&D, infrastructure construction, industrial use, and ecosystem creation to secure core technologies.

 

The government will establish 'Biofoundry', a key infrastructure to accelerate innovation in Synthetic Biology technology and strengthen domestic bio-manufacturing competitiveness.

 

Biofoundry will be invested 300 billion won over five years from 2024 to 2028, and will be organized by the Ministry of Science and Technology.

 

In addition, the government decided to revitalize the "Korea Synthetic Biology Development Council" to create a private-centered Synthetic Biology development ecosystem and gather domestic industry, academia, and research capabilities.

 

Currently, 58 organizations, including 20 companies, 26 universities, and 12 contributing associations, are participating in the council.

 

The government will hold a joint Korea-U.S.

 

Synthetic Biology conference in December to lay the foundation for research cooperation with the U.S., a leading technology player in Synthetic Biology, and promote cooperation among major research institutes.

 

Synthetic Biology means creating a life system by synthesizing genes.

 

Synthetic Biology technology is evaluated as a key technology that can change the flow and landscape of all fields of the red, green, and white bio industries, and has also been designated as one of the top 10 core technologies in the U.S.

 

Innovation Competition Act.

 

In fact, Moderna shortened the development period by using Synthetic Biology in the process of developing the COVID-19 mRNA vaccine.