According to Yonhap News,
South Korea will spend 208.8 billion won (US$143.7 million) this year on global technology cooperation projects as part of efforts to bolster the country's technological competitiveness, the industry ministry said Wednesday.
The amount marks a 25.9 percent increase from the corresponding tally for last year, according to the Ministry of Trade, Industry and Energy.
In detail, South Korea plans to funnel 94.2 billion won into international projects aimed at fostering technology developments through bilateral cooperation or participation in multilateral funding programs, such as Eureka and Eurostars, led by the European Union.
The country will inject an additional 105.2 billion won into creating industrial technology collaboration centers at top-tier research institutions across the globe and launching mid- to long-term joint research projects to develop core technologies for future growth engines, according to the ministry.
Another 3.5 billion won will be spent on promoting global entities' investment in local research and development (R&D) projects and cooperation between local and foreign companies.
nyway@yna.co.kr
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Source: Yonhap News (February 5, 2025)