A domestic think tank has developed a key source technology for next-generation memory for the first time in the world.

The Commerce, Industry and Energy Ministry on Thursday said a team at the Gwangju Institute of Science and Technology has developed a key technology of resistance random access memory (ReRam) that can solve flash memory problems.

The new technology enables data storage for more than ten years and allows rewriting more than ten million times, and its commercial use is highly likely.

The breakthrough was announced Wednesday at a prestigious semiconductor symposium in Washington.

The United States, Japan and other countries are also working on the technology but have not yet conducted research on its commercial application.