Korean government asks $15.1 bn in R&D budgets next year

South Korea’s eight government ministries and departments asked for more than six percent increase in research and development (R&D) budgets from last year.

The budget requests submitted by each relevant government department added up to 17.2 trillion won ($15.1 billion), up 6.2 percent from this year, said the National Science & Technology Council (NSTC) Sunday. The NSTC is in charge of distributing all scientific R&D funding that is not related to national security and social/humanities research.

The budget request for the international science business belt project increased 41 percent to 310.0 billion won. The R&D budget request for SMBs rose 7.6 percent to 763.7 billion won, while R&D support for startup SMBs rose 73.8 percent to 128.6 billion won. The budget request for convergence technologies was expanded 89.2 percent to 75.5 billion won.

For full article see Maeil Business.