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Korea to Spend 6.4 pct More on R&D This Year
Date
2013.01.15
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864
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South Korea will spend nearly 2.2 trillion won (US$2.08 billion) on research and development (R&D) in 2013, with nearly half of its entire budget earmarked for basic science, the government said Monday.

The government will spend a total of 2.19 trillion won on R&D this year, up 6.4 percent from 2012, according to the Ministry of Education, Science and Technology.

Of the total, 993.1 billion won, or 45.3 percent, will be spent on the development of basic science with another 469.1 billion won earmarked for the development of new, indigenous technologies.

 

The country will also spend some 167 billion won on its space development program with 80 billion won set aside for the development of an indigenous space launch vehicle, up from 44 billion won last year, it said.

South Korea is scheduled to launch its Korea Space Launch Vehicle-1, whose lower thrust engine was built by Russia, in its third attempt to send a rocket into space from its own soil.

The ongoing space rocket program ends later in the year, but the country seeks to develop its own 350-ton space rocket by 2021.

Source Text

 

Source: Yonhap News (Jan. 14, 2012)

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