[Korea.net News, Science / Tech, November 24 2007] Gov't to start supporting R&D of 15 key industrial technologies next year

Korea said Friday (Nov. 23) that it plans to support research and development (R&D) of 15 key industrial technologies beginning in 2008.

The support, which will run through 2015, is aimed at helping local companies and laboratories acquire basic technology and engineering skills that are critical for sustained growth, the Ministry of Commerce, Industry and Energy said. It added the support will help companies deal with the effects of free trade agreements being pursued by Seoul to expand market access and stimulate competition.

In the first year, the ministry said, it wants to spend 435.2 billion won ($466.1 million) on seven growth industries, four future high-tech sectors, and four business and technology processes.

The money will augment R&D by private companies and laboratories that are already spending huge sums in these areas.