Korea to create 200-billion won fund

The Ministry of Health and Welfare will attract investment from the private sector to set up a 200-billion won R&D fund by 2014 to finance local firms' large-scale research and development (R&D) projects, as the National Assembly’s Health and Welfare Committee Tuesday passed a revision bill aiming to create a 20-billion won fund.

Currently, Britain operates a $1.5-billion bio-medical fund, w...