China snaps at heels of S. Korea in science, technology: think tank
Chinese products have been shedding their image of being cheaply made with poor technology. China has already outpaced South Korea in terms of science and technology, which determine the overall quality of products manufactured in a nation, according to an analysis by a local think tank.
“China has rapidly gained scientific technological competitiveness enough to overwhelm Korea in absolute terms,” said a researcher at Hyundai Research Institute (HRI) in the report released Sunday. China’s investment in research and development (R&D) totaled $104.3 billion in 2010, triple that of Korea ($38.0 billion). China’s investment in R&D has soared 24 percent on average per year, a pace three times faster than that of Korea.
China submitted 390,000 patent applications, twice 170,000 applications of Korea, and academic papers listed on the Science Citation Index (SCI) numbered 140,000 articles, four times 40,000 of Korea. China had a total of 1.21 million researchers, fivefold 260,000 of Korea.
For full article see Maeil Business.