Government set to spend 2.2 trillion won on research

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Government set to spend 2.2 trillion won on research

Korea will spend nearly 2.2 trillion won ($2.08 billion) on research and development in 2013, with nearly half of its entire budget earmarked for basic science, the government said yesterday.

The government will spend a total of 2.19 trillion won on R&D this year, up 6.4 percent from 2012, according to the Ministry of Education, Science and Technology.

Of the total, 993.1 billion won, or 45.3 percent, will be spent on the development of basic science with another 469.1 billion won earmarked for the development of new, indigenous technologies.


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