Korea to spend $1.61 bn in energy R&D in 2012

South Korea’s Ministry of Knowledge Economy (MKE) will be setting aside 1.821 trillion won ($1.61 billion) for energy-related research and development.

The government will be injecting 1.821 trillion won in 19 projects belonging to four categories of energy and resource development, new and renewable energy, electric and nuclear energy, and radioactive waste management, the MKE disclosed Tuesday.

The ministry’s energy R&D focus this year will be on boosting the marketability of core energy products and improving the efficiency and safety of energy-guzzling products frequently used by low-income households and senior consumers.

To promote shared growth between large companies and smaller enterprises, all sizeable projects will require the participation of medium-sized companies or small and mid-sized businesses.

For full article see Maeil Business.