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Sci-Tech Development Blueprint Released

Posted August. 13, 2008 07:05,   


The government has devised a blueprint to make Korea a science and technology powerhouse by 2012.

To meet the goal, state investment for public and private research and development will rise to five percent of GDP by 2012, technologies in seven major areas will be fostered, and seven science-related systems will be advanced.

The Education, Science and Technology Ministry released yesterday the “577 Strategy – Basic Plans for Science and Technology” at the 28th National Science and Technology Council meeting chaired by President Lee Myung-bak.

Presented by 22 ministries and private expert groups, the plan is the incumbent government’s blueprint for science and technology development.

“The key to the 577 strategy is to expand R&D investment to five percent of GDP from 3.23 percent,” said Lee Sang-mok, head of the ministry’s science and technology policy department. “To do so, the government will spend 66.5 trillion won on R&D, 26 trillion won more than the amount spent by the previous government.”

To increase R&D investment, the government will expand tax exemptions on R&D facility investment from seven percent to 10 percent and adopt a joint investment method to encourage companies to conduct the initial stages of technology development.

The seven major technological areas include next-generation vessel development, stem cell application technology, digital convergence, next-generation nuclear reactors and intelligent robots.

Fifty main technologies and 40 additional ones will be chosen and given intensive state support over the next five years. To foster world-class talent in science and technology, boost technology innovation in small and venture companies, and promote science culture, seven science-related systems will be revamped.

In line with the plans, the National Science and Technology Council, which controls the science and technology budget, will expand spending for technological development of small and medium enterprises and the parts and material sectors, while focusing on nurturing technologies that increase energy efficiency.

In addition, the government will also invest in industries for marine leisure equipment, indigenous attack helicopters and basic neurological technology.