April 25, 2024
Economy
Korea to spend W20tr on R&D in 2018
[THE INVESTOR] The government will inject some 19.6 trillion won (US$17.80 billion) in research and development next year, the Ministry of Science, ICT, and Future Planning said on Aug. 29.
The ministry said next year’s science and technology budget, which is subject to parliamentary endorsement later this year, has been set to gain 1.9 percent on-year from 2017.
Of the total, 6.5 trillion won will be spent on R&D of indigenous technologies to cope with the fast-paced industrial transformation, dubbed the “fourth industrial revolution.”
The planned allocations will assist in securing critical know-how, such as artificial intelligence and unmanned vehicle technologies as such sectors can eventually lead to the development of more cutting-edge technologies.
Another 6.86 trillion won will be used to develop fusion technology related to the defense, medicine and manufacturing sectors.
The ministry said about 1.35 trillion won, up from 1.3 trillion won a year earlier, will be earmarked to expand R&D, including fostering manpower in the basic science sector, the ministry said.
The government said it will first allocate 52.5 million won to a total of 350 up-and-coming researchers who posses good potential to make breakthroughs.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The ministry said next year’s science and technology budget, which is subject to parliamentary endorsement later this year, has been set to gain 1.9 percent on-year from 2017.
Of the total, 6.5 trillion won will be spent on R&D of indigenous technologies to cope with the fast-paced industrial transformation, dubbed the “fourth industrial revolution.”
The planned allocations will assist in securing critical know-how, such as artificial intelligence and unmanned vehicle technologies as such sectors can eventually lead to the development of more cutting-edge technologies.
Another 6.86 trillion won will be used to develop fusion technology related to the defense, medicine and manufacturing sectors.
The ministry said about 1.35 trillion won, up from 1.3 trillion won a year earlier, will be earmarked to expand R&D, including fostering manpower in the basic science sector, the ministry said.
The government said it will first allocate 52.5 million won to a total of 350 up-and-coming researchers who posses good potential to make breakthroughs.
By Alex Lee and newswires (alexlee@heraldcorp.com)
