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National R&D projects to be allocated KRW 20.5 tln this year

According to Yonhap News,

(SEOUL=Yonhap News) The government is to invest KRW 20.5 trillion in national R&D projects this year, up 3.8 percent from the previous year (KRW 19.7 trillion).

The Ministry of Science and ICT (MSIT) held the 9th Presidential Advisory Council on Science & Technology (PACST) Deliberation Council's Management Committee on March 14 and confirmed this year's implementation plan for the 4th Science and Technology Basic Plan (2018-2022).

The implementation plan contains stronger support measures for researcher-led basic research. This year, basic research projects will receive KRW 1.71 trillion, 290 billion more than last year (KRW 1.42 trillion), with an intent to gradually increase budget in this area to reach KRW 2.52 trillion in 2022.

Artificial Intelligence (AI), big data, communications, and other research areas vital to prepare technologies responding to the 4th industrial revolution, will be given KRW 1.8 trillion. Last year, KRW 1.54 trillion was allocated to this area.

Moreover, disaster response, and development of safety technology will receive KRW 1 trillion, while research on reducing particular matter is to get KRW 112.7 billion. KRW 86.2 trillion will go to research on improving the health of citizens.

MSIT said, "We will reflect changes in major policy circumstance and mid-to long-term plans by sector into implementation plan, and specify policies and projects by department to improve the effectiveness of basic plan". 

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Source Text

Source: Yonhap News (March 14, 2019)

** This article was translated from Korean.

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