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Korean Gov’t Funnels R&D Budget into New Industries
Investment in the Future
Korean Gov’t Funnels R&D Budget into New Industries
  • By Cho Jin-young
  • January 8, 2016, 04:30
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The Korean government will concentrate its R&D budget investment in the nine new and emerging industries of ICT & software, biotechnology & healthcare, energy & resources, materials & nanotechnology, machinery & manufacturing, primary & food, aerospace & ocean, construction & transport and environment & meteorological. Two fields were selected in each of the nine for concentrative investment.

For example, software & content and the IoT are the two for ICT & software. The investment in this segment is planned to be concentrated on system semiconductors and next-generation displays in particular. New drug and medical equipment are the two fields associated with biotechnology & healthcare. The government is going to make aggressive investment in the new drug and medical equipment markets while trying to attract experts and core technology in the fields that Korea is falling behind in such as brain science and genome research.

In the primary & food industries, food, stock breeding and veterinary science are slated to benefit. These sectors are to be combined with information and communications technology in the form of smart farms and so on, so that more added value can be created.

The government is to focus on carbon and nanomaterials, metals, robotics, satellites, environmental health and prediction and the like, too.