Budget for science R&D projects to rise 26 pct in 2018－2018年科技研發計畫預算將增加26%
South Korea plans to increase its 2018 budget spending for science and technology R&D projects, the science ministry said Thursday.
The Ministry of Science, ICT, and Future Planning said it will spend 1.52 trillion won in 2018 on various science and technology R&D projects, subject to parliamentary endorsement later this year, up from 1.26 trillion won allocated for this year.
The allocations will assist in securing critical information technologies, such as artificial intelligence and unmanned vehicle technologies as the sectors will eventually lead to the development of cutting-edge technologies.
Under the projects, the government hopes that innovative ideas would turn into businesses through science and technology, while generating business opportunities by converging different industries. The ministry said technologies, such as the IoT and AI, are forecast to generate business opportunities and profits worth 560 trillion won by 2030.