The Science and Technology Ministry has pledged 430 billion won for stem cell research over the next decade to promote the sector as one of the country's core projects.

The ministry on Monday said it seeks to elevate domestic stem cell technologies from seventh or eighth in the world to third by 2015.

Funding will go to studies to clarify the peculiarities of stem cell differentiation, implementation of a database on stem cell clinical trials and establishment of a stem cell bank.

The ministry will also finalize by October a second state plan to nurture bioengineering, including stem cell research, as a next-generation growth engine.