Invest KOREA

South Korea is set to launch a new science and technology council this week that will control roughly 75 percent of the country's research and development (R&D) budget, the government said Sunday.

   The National Science and Technology Council (NSTC), scheduled to formally begin work on Monday, aims to improve efficiency and accountability of R&D projects that in the past were controlled by various ministries, the science ministry said.

   In 2011, Seoul has set aside 14.9 trillion won (US$13.4 billion) for various R&D support projects.

   The council will take charge of planning, distribution of state resources and carrying out evaluations on all state-funded R&D projects that need funding support for more than five years, can contribute to future economic growth and strengthen the country's capabilities in basic science.

   Military-related projects will not be handled along with money given to social science research programs, the ministry said.

   The NSTC, under the direct control of the president, will be chaired by former Minister of Education, Science and Technology Kim Doh-yeon with eight special panels that will be responsible for overall policy coordination of R&D projects, evaluation, intellectual property protection and public work projects.

   About 45 percent of the NSTC's staff of 140 will be made up of private sector experts so the council can better meet demands of scientists and researchers, the ministry said.

Source: Yonhap News (March 27, 2011)