Invest KOREA

(SEJONG=Yonhap News) The South Korean science ministry has advised 30 public institutions to invest a total of 1.31 trillion won (US$1.15 billion) in research and development (R&D) next year, officials said Monday. 

The Ministry of Science, ICT and Future Planning said it has given the advisory to the institutions on R&D spending for 2017 in an effort to encourage more R&D in the private sector.

Among the institutions are the Korea Water Resources Corporation and the Korea Rural Community Corporation that have laboratories.

"The public institutions have data in energy, transportation and safety that can be largely used in various industries," said a ministry official.

The advisory includes investing 69.1 billion won in R&D for big data, ministry officials said.

khj@yna.co.kr

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Source: Yonhap News (Oct. 31, 2016)