Public R&D Investment: Public Organizations to Make US$1.52 B. in R&D Investment Next Year | BusinessKorea

Tuesday, May 23, 2017

12 December 2013 - 5:14pm

Twenty public organizations have spent roughly 1.57 trillion won (US$1.49 billion) for R&D activities this year, or 3.29 percent of their total revenue, in spite of decreased funds. 

Next year they will strengthen technological competitiveness by spending 1.63 trillion won (US$1.52 billion) for R&D activities, which is 3.6 percent more than this year. 

The Ministry of Science, ICT and Future Planning announced on December 10 that 11 organizations out of 20, including KEPCO NF, have spent more on R&D expenses than recommended by the government. 

In addition, the expenditure of eight organizations conducting basic research has been reported as 106.4 percent higher than the ceiling recommended by the government. Of these organizations, Korea Gas Corporation and K-Water have made two  times more investment than the government ceiling. In the case of Korea Gas Corporation, both basic research spending and its ratio of total investment were twice the government’s guidelines. 

But taking into account shrinking profits and restructuring costs, the government has also recommended that the investment ratio to revenue be at 3.02 percent, 0.27 percent lower than this year.

The R&D expenditure on basic research has been set at 234.8 billion won (US$222.7 million), or 16.88 percent, down 0.82 percent from this year.

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