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State R&D Budget to Rise to 9 Tln Won

Written: 2006-02-12 18:02:31Updated: 0000-00-00 00:00:00

State R&D Budget to Rise to 9 Tln Won

The government will expand its budget for the research and development of new engines of economic growth to nine trillion won, including 220 billion won from floating state bonds.

In a briefing to President Roh on its 2006 plan, the Science and Technology Ministry said it wants to raise the nation's world ranking in scientific infrastructure to 14th and technological infrastructure to sixth.

To develop core technologies, 777.2 billion won will go into the development of next-generation growth engines, the commercialization of several large-scale projects and new R&D frontiers in the 21st century.

As a result, the budget for state-initiated R&D projects will increase from 7.8 trillion won last year.

In addition, the ministry will assist scientists in setting ethics and encourage committees at research institutes to monitor their own research.

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