Professor Hwang Woo-suk says he will launch joint studies on stem cells with two world-renowned research teams from Monday at Seoul National University.

Hwang announced the plan in a basic science research forum Wednesday. He said he'll disclose the names of the two research teams at a later date.

The stem cell pioneer said that several local firms have expressed their wish to donate research funds, adding that he believes the matter needs to be discussed with the government.