Funding for science and research to rise
The government said yesterday that it would significantly boost funding for scientific research and development this year to support cutting-edge technologies and raise the country’s strength in basic sciences. The Ministry of Science and Technology said this year’s research and development funding totals 8.9 trillion won ($9.2 billion), up 14.2 percent from a year ago. The figure represents a far greater increase than the 5.9 percent expansion in the country’s total budget spending, it said. “The increase in R&D funds is a clear sign that the government is serious about building up its growth potential through the advancement of science and technology,” a ministry official said.
with the Korea JoongAng Daily
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