The Ministry of Health and Welfare on Tuesday said it has authorized the operation of 14 cord blood banks nationwide.

After authorization, the 14 facilities will be able to save the cord blood that remains in a baby’s umbilical cord after the cord has been cut. The cord is a rich source of unique stem cells that can be used in medical treatments.

Cordblood.com notes that cord blood banking is a once-in-a-lifetime opportunity to save your baby’s cord blood stem cells for potential medical use. Saving cord blood can be lifesaving or life-changing. It ensures that these cells are immediately available if needed, the site says.

The 14 selected facilities were Boryung i-mom, Dream Cord, Green Cross, Babycell, Catholic University Cord Blood, i-cord, Cha Medical Center, Twelvebaby, Daegu Fatima Hospital, Seoul Metropolitan Government, Life Cord, Help cell Bank, Medipost and Goodgene.