South Korea’s Cabinet approved a five-year plan earlier this month to invest over $79.8 billion in new technology R&D. This is Korea’s third plan of this type and raises spending by over 30% from the previous plan. In addition, the Ministry of Science, Information and Communications Technology and Future Planning will release a plan next year addressing 120 technologies. Also, the Ministry of Agriculture, Food and Rural Affairs has announced that it has formulated its own R&D plan, under which agricultural development would account for 10% of all government R&D spending by 2020, up from 5% currently. The Ministry also intends to open 14 additional business support centers by 2017.

Source: Yonhap News Agency