South Korea's Ministry of Science and ICT and Ministry of Health and Welfare have appointed Park Jang-hwan (박장환), an emeritus professor at Hanyang University, as the second head of the pan-ministerial Regenerative Medicine Technology Development Programme, the ministries said on Wednesday.

The programme is a joint project by the two ministries that will run for 10 years from 2021 to 2030. It will invest a total of 595.5 billion won to secure core and fundamental technologies in regenerative medicine. The funding includes 542.3 billion won in government money and 53.2 billion won from the private sector.

It aims to develop regenerative medicine treatments at a global level and generate results in patents and technology transfer by supporting the full development cycle of stem cell and gene-based therapeutics and treatment technologies.

Park previously served as head of new drugs at the Korea National Research Foundation and as advanced regenerative medicine PD at the Korea Health Industry Development Institute. He is regarded as an expert with experience across the full cycle of basic research, clinical work and commercialisation in regenerative medicine, as well as organisational management capabilities.

The programme head, who oversees planning, evaluation and management of the project, as well as support for the use and dissemination of research outcomes and commercialisation, was recruited through an open call in January. Park was selected through document and presentation evaluations and by a board review and resolution. The term is 3 years and can be extended by 2 years following an evaluation.

Park said he would produce results that people can feel by strengthening pan-ministerial cooperation and links among industry, academia, research institutes and hospitals. He said he would do his best to strengthen global competitiveness in regenerative medicine.