The Ministry of Science, ICT and Future Planning (MSIP) will invest KRW 3.9112 trillion in achieving a creative economy. The MSIP will focus KRW 1.135 trillion on supporting start-ups and the convergence of information communication technology (ICT) and software and on building the competitiveness of small- and medium-sized companies.

The Korean government held the second meeting of the National Science & Technology Council last week and finalized the 2014 budget plan, which allocates KRW 11.6750 trillion for national research and development (R&D) projects.

◇ R&D Investment for a Creative Economy: KRW 3.9112 trillion

The MSIP plans to make an investment of KRW 3.9112 trillion in 2014 to achieve the vision of a creative economy. It also allocated KRW 1.135 trillion for next year, which marks a 26.7 percent increase from this year, to support start-ups and the convergence of ICT and software and to build the competitiveness of small- and medium-sized companies.

More R&D support for start-ups will be provided to create an ecosystem where creative ideas are commercialized. The budget for technology development for start-ups will be expanded to KRW 141.4 billion. In the next year, KRW 15 billion will go toward supporting solitary businesses and KRW 21.8 billion will be allocated for start-ups that target the global market.

The Korean government will focus on supporting R&D to build the competitiveness of small- and medium-sized companies with innovative technology that lay the foundation for the Korean economy and create a large number of jobs. To solve the greatest grievance of small- and medium-sized companies, which is related to employing talent, the budget for SME technology development will be expanded from KRW 8.5 billion to KRW 11.5 billion.

In addition, to create a new market through the convergence of traditional industries and new technology, investment in the convergence of ICT and software will be increased. The budget for system semiconductor technology commercialization has expanded from KRW 20.1 billion to KRW 25.1 billion and that of software convergence technology advancement has also risen from KRW 5.5 billion to KRW 8.4 billion. For industry facilitation based on cooperation, KRW 16.9 billion was allocated according to the plan.

The budget for the high-added value content industry has also increased to KRW 63.4 billion from KRW 54.4 billion to further advanced content technology development.

◇ KRW 640.7 Billion for Citizens’ Safety and Welfare

For the safety and welfare of citizens, which are key agenda items for the Park Geun-hye administration, an R&D budget of KRW 640.7 billion will be designated to enhance social safety and convenience for vulnerable classes and solve social issues.

The Korean government will focus on areas that help enhance citizens’ safety, including reducing natural disasters and environmental damages and managing food safety. The budget for disaster management will be increased from KRW 83.9 billion to KRW 100.7 billion and that for food and pharmaceutical safety from KRW 63.0 billion to KRW 76.3 billion.

This also applies to cyber security. The budget for the development of information protection technology has expanded to KRW 26.6 billion from KRW 22.7 billion.

In addition, R&D to enhance convenience for vulnerable groups of people, including those with disabilities, seniors and women, and build a comfortable living environment will be promoted. To develop senior-friendly products in preparation for an aging society, KRW 1.5 billion will be provided and a fund of KRW 2.4 billion will be given to support R&D in the field of women’s health.

Support for R&D projects that aim to solve social issues, including addiction to the Internet and games, sexual harassment and sexual crimes, with science and technology will be reinforced. The budget for these projects has been increased by 145.1 percent to reach KRW 23.3 billion from KRW 9.1 billion.

◇ KRW 3.8079 Trillion Invested in Science and Technology

To build Korea’s technological competitiveness, the Korean government will invest KRW 3.8079 trillion in enhancing and restructuring science and technology systems.

To become a leader in R&D from a follower, investment in basic research that focuses on creative research projects will be expanded. Investment of KRW 348.8 billion and KRW 188.4 billion will go toward supporting experienced researchers and operating a basic science research institute, respectively.

In addition, to eliminate barriers between ministries and draw innovative research outcomes, support for joint R&D projects will be reinforced. New investment of KRW 46.2 billion will be allocated to seven ministries and agencies, including the Ministry of Health and Welfare, and investment of KRW 17.9 billion will be made for the Ministry of Trade, Industry and Energy (MOTIE) and MSIP.

To establish a stable research environment in government-funded research agencies and reinforce their role, the Korean government’s direct investment in 2014 will increase. More focus will be placed on research integration and convergence with a fund of KRW 78.7 billion, and KRW 110 billion will be offered to support small- and medium-sized companies.

◇ KRW 817.8 Billion Allocated to Establish a Basic Research Environment for Space Technology

The Korean government has also allocated KRW 817.8 billion for space technology development and the establishment of a global basic research environment.

It will also support large-scale space development projects. Investment of KRW 187.7 billion and KRW 32 billion will be allocated to develop Korea’s launch system and stationary satellite, respectively.

A science business belt project will also be supported with KRW 149.7 billion to build a world-class basic research environment.

Investment in international joint research to draw research outcomes based on global cooperation and contribute to the economic development of emerging countries will be expanded. To support a global research institute, KRW 22.5 billion will be provided.

Minister of Science, ICT and Future Planning Choi Moon-ki noted that the government will focus on improving the efficiency of governmental R&D projects through regular in-depth examinations with an advisory group consisting of private experts. He also noted that the ministry will support key national issues, including the vision for a creative economy, enhanced safety and greater scientific and technological competitiveness.


Source Text

Source: Newsis (Aug. 4, 2013)

** This article was translated from the Korean.