South Korea

The South Korean government designated KRW 9.7 trillion ($10.4 billion) for R&D programs this year, an increase of 9.6% from last year. Since 2003, R&D spending has increased an average of 10.6% each year. The government established a science and technology innovation headquarters two years ago, which monitors and seeks to improve the efficiency of R&D investment. The headquarters have used a number of strategies to achieve their goals. Investment in local R&D centers and universities, which are funded by other government agencies, has been cut. Projects’ allotments are based on their past performance, or lack thereof. In addition, R&D sectors with practical applications have been redirected to private investment.


< | >