Korea posts second-highest growth in R&D investment

Korea’s investment in research and development has grown an average of 9.6 percent since 2008, the world’s second-highest level after China, a government commission reported Thursday.

R&D investment during the period totaled 68 trillion won ($62.8 billion), which means an average of 9.6 percent growth per year between 2008 and 2012. The total is more than the target amount of 66.5 trillion won, the National Technology and Science Commission said in a report to President Lee Myung-bak. The growth rate is the second highest after China’s 22.3 percent averaged between 2008 and 2010.

Japan saw R&D investment rising an average 8.8 percent between 2008 and 2010; the United States 7.9 percent between 2007 and 2009; and Germany 1.8 percent between 2008 and 2010. France’s R&D investment contracted an average 2.1 percent between 2008 and 2010, the commission said.

For full article see Korea Times.