BORN2GLOBAL

  • banner
  • banner
  • banner
  • banner

H >

  • Official R&D budget this year set at record KRW 24T

  • Vice Minister of Science and ICT Kim Sung-soo on Jan. 6 gives a speech in a briefing session on inter-governmental cooperation in R&D projects this year at Soongsil University in Seoul.



    By Kim Young Deok and Lee Jihae
    Photos = Ministry of Science and ICT

    The government this year has set a record-high budget of KRW 24.2 trillion for research and development (R&D), up 18% from last year's amount, pledging to do its best to lay the foundation for sustainable development.

    Eleven government branches including the Ministry of Science and ICT and the Ministry of Education scheduled briefing sessions on such cooperation on Jan. 6 and 8 in Seoul and on Jan. 20 and 22 in Daejeon to announce details of the administration's R&D plans.

    "This year's government budget for R&D project was expanded to a record high of KRW 24.2 trillion," Vice Science and ICT Minister Kim Sung-soo said in the Jan. 6 briefing held at Soongsil University in Seoul.

    He said that through R&D, the government and the science and technology sector are "strongly determined" to prepare for uncertainty in the future and expand the foundation for sustainable development.

    The Science Ministry said the government will focus on four R&D tasks: bolstering science and technology capabilities, enhancing economic vitality, investing in innovative growth strategies and improving quality of life. Small and mid-size businesses related to basic research and R&D will receive more aid. Systems to prepare for and guard against disasters and contingencies and improve quality of living will also be expanded.

    Large-scale customized projects such as the domestic production of strategic core materials will also press ahead in response to Japan's export restrictions on Korea placed last year.

    "The government will invest more than KRW 5 trillion by 2022 in the domestic production of core materials and components necessary for R&D projects," said Choi Do-young, director of the ministry's R&D Investment Coordination Bureau.

    "The budget for R&D projects will increase to about KRW 31 trillion by 2023."

    He added, "We will make various efforts and target results to expand the budget and meet its expectations."

    kyd1991@korea.kr

     

    Comments

STARTUPS OF THE WEEK

    • 1 AFUN INTERACTIVE
      Headquarters

      #401, 23, Seonyu-ro 49-gil, Yeongdeungpo-gu, Seoul, Republic of Korea

      Description

      Real-time Interactive 3D Digital human

    • 2 Wellscare Co.,Ltd
      Headquarters

      507, 5F, 107, Gwanggyo-ro, Yeongtong-gu, Suwon-si Gyeonggi-do, Republic of Korea / (US) 3580 WILSHIRE BLVD, STE 1460, LOS ANGELES, CA 90010

      Description

      The stylish, comfortable and safe home-care laser pain therapist IASO

    • 3 Riiid
      Headquarters

      29, Teheran-ro 87-gil, Gangnam-gu, Seoul, Republic of Korea

      Description

      Riiid is bring creative disruption to education market through AI technology.

    • 4 SSenStone Inc
      Headquarters

      #808, Digital-ro 30-gil 28, Guro-gu, Seoul, Republic of Korea

      Description

      StonePASS provides various authentication methods such as FIDO biometrics, security PIN, pattern, mOTP, etc. into a single solution.

    • 5 12CM
      Headquarters

      Pangyo Silicon Park A-501 Seongnam, Gyeonggi 13486, Republic of Korea

      Description

    • 6 SketchOn
      Headquarters

      Corporate Collaboration Center #85313, 2066, Seobu-ro, Jangan-gu, Suwon-si, Gyeonggi-do, 16419

      Description

      Harmless, Easy-to-Erase Printed Tattoos

    • 7 Dable
      Headquarters

      #301, 22, Nonhyeon-ro 79-gil, Gangnam-gu, Seoul, 06237

      Description

      Explain Your Business in One Line

    • 8 SMART STUDY
      Headquarters

      5F, 94, Myeongdal-ro Seocho-gu, Seoul, 06668

      Description

      Sing, Play and Learn with PINKFONG

    • 9 HYLIUM INDUSTRIES, Inc.
      Headquarters

      #3-326, Pangyo-ro 289beon-gil 20, Bundang-gu, Seongnam-si. Gyeonggi-do, Republic of korea

      Description

    • 10 Ovitz Corporation
      Headquarters

      260 East Main Street, Suite 6103 Rochester, NY 14604

      Description

      Compact, Fast, Portable Eye Diagnostic Device

    • 11 Lunit
      Headquarters

      169, Yeoksam-ro, Gangnam-gu, Seoul, Republic of Korea

      Description

      DIB is an imaging biomarker derived from large-sca

    • 12 linkflow
      Headquarters

      Yugi tower 13F, Teheran-ro 69gil 5, Gangnam-gu, Seoul Korea

      Description

      Wearable 360 degree camera company

    • 13 Exosystems, Inc.
      Headquarters

      #804, 815, Daewangpangyo-ro, Sujeong-gu, Seongnam-si, Gyeonggi-do, Republic of Korea

      Description

      Exosystems provides a new paradigm of rehabilitation with the slogan-“Fun @Home, Data Driven Rehab!”

    • 14 Visual Camp
      Headquarters

      Startup Campus #325, 289beon-gil 20, Pangyo-ro Bundang-gu, Gyeonggi-do, 13488

      Description

      Eye Tracking Technologies for Mobile VR Devices

    • 15 MOPIC
      Headquarters

      85307, corporate collaboration center, 2066 Seobu-ro, Jangan-gu, Suwon-si Gyeonggi-do, Korea 16419

      Description

      Your Breathtaking Mobile 3D Theater

    • 16 NEWRATEK
      Headquarters

      2~4F, Iksung Building, 6, Bongeunsa-ro 112-gil, Gangnam-gu, Seoul, 06170

      Description

      New Radio Communications for a New Era

    • 17 ZOYI Corporation
      Headquarters

      15F, KR Tower, 141, Teheran-ro Gangnam-gu, Seoul, 06132

      Description

      Growth Hacking for O2O Commerce

    • 18 Salted Venture
      Headquarters

      340 Nonhyeon-ro, Gangnam-gu, Seoul, 06227

      Description

      Fixing Golf Swings and Squats from the Feet

startups_left startups_right