Gov't to pump billions into tech research

SEOUL, Jan. 14 (Yonhap) -- The government announced plans Thursday to pump
billions of won in research money into developing competitive home-grown
technology.

The Ministry of Education, Science and Technology said it will spend 354.9
billion won (US$316.0 million) this year -- an increase of 18 percent over 2009
-- to expand knowhow in nanotech, biotech, technology convergence and energy.
About 80 billion won of that will be used for new investments, up more than 43
percent from last year.
Creating technology domestically and ahead of the curve can help save the nation
money in the long run, the ministry said, by avoiding patent lawsuits and royalty
payments.
"Increasing funding is part of a broader national plan to transform the country
into a front-runner in basic technology research and development areas by 2021,"
a ministry official said.
In the energy sector, the government plans to assist research on reducing
greenhouse gas emissions and lend support to make South Korea's green technology
more competitive through convergence with other areas.
Hoping to get the most bang for its buck, the ministry said it will front-load 74
percent of the budget in the first half of this year.
The government will also spend another 577 billion won to train research
personnel, and 650 billion won for private research in the basic technology
hoping to give scientists more leeway to conduct exploratory research that may
lead to immediate gains.
"These kinds of efforts are needed if the country hopes to broaden its overall
knowhow in the scientific field," the official said, "which can ensure sustained
growth in the long run."
yonngong@yna.co.kr
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