South Korea will sharply increase its investment in science and technology setting a 92.4 trillion won ($80 billion) budget to finance research and development projects in new growth sectors by 2017, the government announced on Monday. The plan represents a more-than 30 percent increase from the previous Lee Myung-bak administration’s five-year budget of 68 trillion won.
As part of the five-year science and technology development project, the budget will be allocated to enhancing agricultural and medical technology as well as supporting basic science research. The government said it believed the investment would help elevate the level of science and technology research and help create some 640,000 new jobs.
For full article, see Korea Herald.