Former Samsung CEO tapped to lead gov't R&D policy office

SEOUL, March 24 (Yonhap) -- A former CEO of Samsung Electronics, the world's top
memory chipmaker, has been tapped to lead the new state research and development
(R&D) strategy coordinating office, the government said Wednesday.

The Ministry of Knowledge Economy said Hwang Chang-gyu, who left Samsung early
last year and currently teaches at Seoul National University, has accepted the
ministerial level post.
The former business executive is well-known for "Hwang's Law" introduced in 2002,
which states flash memory chip storage doubles in capability every year. The
57-year-old is also famous in the electronics industry for helping develop the
world's first 256 megabit RAM in 1994.
As the ministry's chief technical officer (CTO), Hwang will be tasked with
setting new directions for future R&D efforts, submitting budget proposals and
adjusting industry-wide investment portfolios to maximize effect.
He can review R&D projects, check how government funds are spent and push for
structural changes in state-supported research programs.
The ministry controls an average of 4.4 trillion won (US$3.87 billion) worth of
R&D-related funds annually.
His tenure in office has been set at three years to permit continuous service,
with an option to extend it for another three years. The wage for the newly
established post has been set at 300 million won excluding bonuses.
On March 8, the ministry had proposed setting up the coordination office to
revamp and enhance the country's competitiveness in R&D and bolster the
effectiveness of spending.
The office will be made up of 17 experts from the business community, academia
and government and co-chaired by a civilian CTO and the knowledge economy
minister.
Government officials, however, will not be able to vote on R&D related policies.
Of the 17 members, Hwang and five managing directors will hold permanent positions.
yonngong@yna.co.kr
(END)

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