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Gov't to Allocate 7.8 Trillion Won into Large-Scale National Projects

Written: 2004-12-23 11:40:55Updated: 0000-00-00 00:00:00

The government has held a second meeting of science and technology-related ministers to discuss next year's estimated 7.8 trillion won budget for national research and development projects.

During the Thursday meeting, the government decided to allocate 24.9 percent of the total budget for the 2005 fiscal year to the Ministry of Science and Technology, 22.4 percent to the Ministry of Commerce, Industry and Energy and 11.9 percent to the Ministry of Education and Human Resources Development.

The government plans to allocate some one-point-nine trillion won to the industrial sector and 770 billion won to national defense.

The government has also decided to hold a feasibility study on its planned large-scale national research and development projects during the first half of next year. It plans to begin the projects immediately after designating approved plans and the ministries that will oversee the R&D work.

Topping the government's list of such large-scale projects includes the development of magnetic surface and locally-made high-speed express trains, along with mad cow disease-resistant cattle.

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