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According to Yonhap News,
The Ministry of Health and Welfare (MOHW) unveiled its plan to establish a 4,230 square meter-stem cell regeneration R&D center in Osong Bio Velley in 2014.
The MOHW will spend 16.4 billion won to build the R&D center equipped with high-tech laboratories and test equipment.
In addition, the MOHW held an opening ceremony for the national stem cell bank, to be the core capacity of the R&D center, at the Korea National Institute of Health.
North Chungcheong Province (Chungbuk) will attract relevant research institutes down the road to develop Osong into a stem cell specialized R&D hub.
"We will focus on establishing necessary R&D infrastructures
for stem cell. We will also support R&D on stem cell through the Osong High-Tech
Industry Promotion Foundation," said a Chungbuk official.