Stem cell pioneer Hwang Woo-suk has received this year's World Technology Award for biotechnology.

World Technology Network Chairman James Clark granted Hwang the award in a ceremony Tuesday in San Francisco.

Four of the five previous honorees in biotechnology were Nobel laureates.

In his acceptance speech, Hwang said he is striving to find cures for terminal diseases, and that stem cell research is essential for the enhancement of human health.

The network is a global virtual think tank of some 700 members that honors every year individuals and groups from 20 technology sectors for innovation and work expected to have long-term significance.