South Korea to Invest 12.638 Trillion Won in R&D Next Year

The government has decided to invest US$11.18 billion in the nation’s research and development (R&D) projects next year. The figure is a 2.3% decrease from US$11.45 billion this year. 

Despite a smaller budget in total R&D, the government said that it will increase investment in the disaster and safety sector by 11.2% from this year, and also increase budget for small and medium-sized companies by 1.4% strengthening “selection and concentration” in the R&D sector. 

It is a budget bill for 373 major R&D projects of 19 governmental departments among the nation’s R&D projects next year, excluding national defense, humanities, and social science. 

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