South Korea will invest about 16 trillion won (US$14.2 billion) in scientific
research and development (R&D) efforts this year, a presidential body said
Wednesday.
The amount is up 7.6 percent from the 14.89 trillion won
set aside for the same purpose last year, according to the National Science and
Technology Commission.
The final decision on details relating to the
investment will be made during a meeting Thursday where the commission will
review the R&D spending plans jointly proposed by 25 government
institutions.
Of the total, about 3.31 trillion won will be used to
develop technologies related to satellites and other areas where the private
sector does not have sufficient capacity to spearhead efforts, the commission
said.
The government also plans to invest some 1.29 trillion won to
support R&D efforts in developing medicines, medical equipment and bio
materials, the commission added.
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