Good morning, fellow Koreans,

The weather is now still really hot even though fall has begun. I hope every one of you will take good care of your health.

The Government has decided to foster the stem cell industry as a core new growth engine following the footsteps of the IT industry.

To this end, I visited the Clinical Research Institute of Seoul National University Hospital last Friday. There, I had in-depth discussions on how to carry out the new government plan with university researchers, business leaders and ministers of relevant government ministries as well as the Korea Food and Drug Administration.

The Government is planning on investing approximately 100 billion won in stem cell-related research next year.

Stem cell research is very rewarding and significant in that it can give hope to those who suffer from rare and intractable diseases. In addition, from a business perspective, it can be said to be a high-value-added industry.

The bio-health industry is being hailed as one of the most promising growth engines in the 21st century. Especially, the world’s medical community and global pharmaceutical companies are channeling their capabilities into the stem cell market.

Just a decade ago, Korea took the lead in stem cell research in the world along with the United States. Unfortunately, there was a disappointing incident, which caused inevitable damage to the entire stem-cell research community in Korea.

While we were faltering in our quest for stem cell research, other nations streamlined their regulations and aggressively expanded their investments in research.

The United States had restricted federal government support for stem cell research citing bioethical issue, but it resumed support two years ago after scrapping the restriction. Taking it a step further, the country allowed clinical research on human embryonic stem cells last year for the first time in the world.

Japan has become the first country to succeed in generating stem cells using somatic cells instead of embryonic cells. With the United Kingdom and China joining in, the competition to develop new technologies is getting fiercer day by day.

Recently, a medicine for myocardial infarction developed by a local firm from stem cells has been officially approved, thereby making our country the first to commercialize the stem cell treatment.

Thanks to this breakthrough, a number of patients with acute myocardial infarction can now be treated with this new medicine. Domestically, the number of new cases of acute myocardial infarction per year amounts to 70,000.

On top of this, since last year, there have been clinical trials for stem-cell therapies for 14 diseases, including retina disorder.

Clinical trials of medicines for acute myocardial infarction, spinal cord injuries and dementia have already been completed. Our country has an original technology for several adult stem cells.

Korea is unparalleled in holding clinical trials for stem-cell treatments. When it comes to the number of the patents involving stem cells, Korea ranks fourth following the United States, Japan and the United Kingdom.

These achievements are attributable to the hard work of researchers and scientists who devoted themselves to research and development despite unfavorable circumstances.

In order to help them keep up the good work, the Government will support them legally and institutionally and will increase investments. I am confident that our country’s stem cell industry will be able to take the lead in the world in the near future.

To this end, the Government will immediately redouble efforts to revitalize research and reform institutions. 

More than anything, the Government will give strong support to promising research teams with the intention of nurturing them into top global leaders.

The Government plans to establish a national stem cell bank that will serve as the base for research. Through this, the Government will produce, preserve and supply stem cells to various researchers in the country on a stable basis.

At the same time, the Government will establish a system compatible with international standards in an effort to facilitate clinical and licensing procedures.

The functions of the Korea Food and Drug Administration and other relevant organizations will be strengthened as part of endeavors to ensure that they proactively adapt to the changes in the international environment.

In the process, the elements that impede commercialization will be rectified so that researchers and enterprises will exert their best efforts.

Fellow Koreans,

Stem cell research and the development of medical treatments promise to serve as an engine that will pull the progress of the country’s bioengineering and medical technology.

This field is new and offers infinite room for advancement, and how well we mange at this initial stage will make an enormous difference down the road.

The country should now set its eyes on emerging as a stem cell powerhouse.

In 2005, we sustained a painful experience, but it has served as a reminder of the necessity to establish sound research ethics and of the importance of human dignity.

These efforts should be conducive to the promotion of the health and happiness of all peoples while raising the country’s international standing. The Government, academia and industry should all join forces in these endeavors.

I urge the researchers and business community to have a great sense of pride and achievement and continue to work hard.

I trust that all the citizens will provide them warm encouragement and take keen interest in what they do as well.

Thank you very much.