Ministers urge more investment

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Ministers urge more investment


Choi Yang-hee, minister of science, ICT and future planning, right, and ministers of 56 other countries introduced the Daejeon Declaration to invest in basic science and cutting-edge technologies on Wednesday, at the Organization for Economic Cooperation and Development (OECD) World Science and Technology Forum, held in Daejeon. [MINISTRY OF SCIENCE, ICT AND FUTURE PLANNING]

Science and technology ministers of the world’s most advanced countries are calling for adequate investment in science and technology to foster sustainable economic growth.

Some 57 countries and 12 international organizations participated in the Organization for Economic Cooperation and Development (OECD) World Science and Technology Forum in Daejeon from Oct. 20-21.

The meeting arrived at a declaration that the world is having its “next production revolution” thanks to evolving production technologies like the Internet of Things, as well as nano- and biotechnologies.

“We recognize that an array of new technologies heralding the ‘next production revolution’ is potentially transformative for our economies and can support sustainable growth and well-being,” the declaration wrote.

“[We will] assess the policies needed to accelerate development of a bio-based economy, including the design of guidelines for measuring the sustainability of biomass production and utilization, while exploring the associated ethical, social and political implications.”

These cutting-edge technologies will help address worldwide low-growth problems and various social problems, ranging from health challenges such as Alzheimer’s and other neurodegenerative diseases often seen in an aging society, to pandemic diseases like Ebola, climate change and food security, the declaration said.

In order to accelerate development of those technologies, the ministers said they will continue to ensure long-term funding to form a private sector-friendly environment to encourage investment in science and technology.

At the same time, the ministers agreed to strengthen the monitoring of R&D projects and evaluate the results to bring out the best results of the investment.

As the Daejeon meeting invited ASEAN member countries - who are not OECD members - for the first time in history, the declaration called for a need to share the fruits of technological development with emerging countries. The declaration is intended as a basic guideline for member countries to determine domestic science and technology policies for the next decade.

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