Step 1: Understanding the Concept
The Human Genome Project (HGP) had several stated goals, including technology transfer and study of the social impact of genome data.
Step 2: Statement (I)
One goal of the HGP was to transfer the technologies developed to the private sector, such as industry. So Statement (I) is correct.
Step 3: Statement (II)
The HGP specifically had a goal to address the ethical, legal and social issues (ELSI) arising from the project. So Statement (II) is incorrect.
Step 4: Compare the options
Statement (I) is correct and Statement (II) is incorrect, which is the third option.
Final Answer:
Statement (I) is correct but Statement (II) is incorrect.
\[ \boxed{\text{(C) }\text{Statement (I) is correct but Statement (II) is incorrect}} \]