South Korea to invest $980m in local medical equipment sector

It plans to boost locally produced biotech and quarantine-related products.

South Korea plans to invest $980m in the medical equipment sector through 2025, which has attracted global attention amidst the COVID-19 pandemic, the country’s science ministry revealed, reports Yonhap.

The investment aims to boost locally produced biotech and quarantine-related products, according to the Ministry of Science and ICT.

The government has set up a research and development group made up of officials from several ministries, and the Korea Centers for Disease Control and Prevention to better manage the investment projects, the ministry said.