Korea ranks the second among OECD countries for R&D investment to GDP ratio

Korea’s R&D (research & development) scale was found to be in the top level among those of OECD (Organization for Economic Cooperation and Development) countries. On the 24th, the Ministry of Science, ICT and Future Planning announced the presentation of a report titled “OECD Science, Technology and Industry Score Board’ at the ‘OECD Global Forum on the Knowledge Economy’ held in Istanbul, Turkey.

According to the report, Korea was ranked the second in terms of the ratio of R&D intensity to GDP and the ratio of R&D investment by private companies to GDP. In the last report published in 2011, Korea was ranked the fourth in both categories. In addition, Korea was ranked the fourth in terms of the government’s private R&D subsidy and tax support scale to GDP ratio.

Korea recorded 4.03% in the ratio of total R&D investment to GDP, and thus is only 0.35% behind the top-ranking Israel (4.38%). Finland and Japan, the third and the fourth countries, recorded 3.78% and 3.39% respectively.

For full article, see Korea IT News.

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