SEOUL, KOREA - The government has set aside 2.9 trillion won for the R&D budget or the new year in a total of 68 projects. The Ministry of Trade, Industry, and Energy said on January 8 that it would announce on the next day the 2014 plan for industrial innovation projects, in wide-ranging areas from biotech to renewable energy, nuclear power, electric power, and robotics.

 

The largest amount of the budget will go to supporting energy industries at 562.3 billion won, followed by robotics, biotech, and knowledge services at 472.8 billion won. Projects for developing regional specialties will get the budget of 167.4 billion won while those for building industry foundations in such areas as design and engineering will be given 157.9 billion won. As for bio-medical research projects, a budget of 74.4 billion won has been earmarked.

 

Other items within the R&D budget included projects for small- and medium-sized enterprises (288.4 billion won), manufacturing capability building (44.2 billion won), commercially promising technology development (38.5 billion won), and manpower support for innovative small- and medium-sized firms (23.3 billion won).