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S. KOREA'S R&D BUDGET TO RISE TO US$10.48 BLN IN 2007.
SEOUL, Jan 1 Asia Pulse - The South Korean government said Monday that it will allocate 9.76 trillion won (US$10.48 billion) to research and development in 2007.
The sum represents an annual gain of 9.6 per cent or 853.4 billion won, the Ministry of Science and Industry said. It said the increase was the largest gain percentage-wise for any item in the budget for the second year in a row, reflecting the importance that the government and lawmakers placed on strengthening South Korea's technological and scientific know-how.
The R&D budget rose 14.2 per cent in 2006 from the previous year.
By sector, 2.34 trillion won will be used on science and technology projects, including basic sciences, and setting up research-oriented colleges to train high quality scientists and technicians.
Slightly more than 2.18 trillion won will be spent on various corporate sector research, while 1.25 trillion won has been earmarked for national defense-related projects.
Money that will be spent on corporate R&D projects is to be ...
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