This year the Ministry of Science, ICT and Future Planning (MSIP) will invest 3.9520 trillion won (US$3.578 billion) in research and development (R&D) on areas of science and technology and Information Communications Technology (ICT). The MSIP announced on Jan. 4 that it has confirmed the “R&D Business Comprehensive Implementation Plan,” which invests 2.9037 trillion won (US$2.63 billion) in Science and Technology and 1.0484 trillion won (US$949.12 million) in ICT.
The investment scale this year, which excludes research and operating expenses of the National Research Council of Science and Technology and research institutes under the direct control from its total R&D budget of 6.5138 trillion won (US$5.9 billion), is to grow 7.9 percent compared to last year. By sector, technology development accounts for the largest part of the budget with 2.2508 trillion won (US$2.04 billion), following basic research with 744.3 billion won (US$673.88 million), foundation construction with 640.2 billion won (US$579.63 million), commercialization and standardization with 161.7 billion won (US$146.4 million), and science and technology and ICT manpower training with 155 billion (US$140.33 million).
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