Fund worth $29.2 million created for defense technology

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Fund worth $29.2 million created for defense technology

The Defense Acquisition Program Administration and the Ministry of Science, ICT and Future Planning signed a memorandum of understanding Wednesday to jointly put 29.6 billion won ($29.2 million) toward developing new commercial and defense technologies over the next five years.

The research and development projects will foster basic applied technologies, such as electricity storage technology, and the two agencies also plan to develop a light, flexible bulletproof material that can be used to make combat uniforms and combat vehicles. Other projects will focus on creating a super-speed submarine and deep-sea visualization technology using sound waves.

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