The South Korean government will spend nearly 2.2 trillion won ($2.08 billion) on research and development (R&D) activities this year, with a nearly half of its entire budget earmarked for basic science, the government said Monday. The Ministry of Education, Science and Technology (MEST) will spend a total of 2.19 trillion won on R&D this year, up 6.4 percent from 2012. Of these, 993.1 billion won will be spent on the development of basic science with another 469.1 billion won earmarked for the development of new, indigenous technologies.
The government will also spend some 266.2 billion won on its nuclear power research program, 202.3 billion won on research of nuclear fusion and accelerator, 167.3 billion won on space development and 93.5 billion won on global introduction of its science and technologies. The money earmarked for the development of basic science increased 1.9 percent from a year ago.
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