National Budget Increases in 2007

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Sunday, December 31st, 2006
The New Year national budget was fixed as 163 trillion won (US$178 billion) including a 1.7 trillion won (US$1.9 billion) allotment for technology development projects of the future growth engine.

By parts, the Ministry of Commerce, Industry and Energy's (MOCIE) technology development budget increased from 1.5 trillion won (US$1.6 billion) in previous years to 1.7 trillion won (US$1.9 billion) in 2007. This budget is expected to be applied to component materials, strategy industries, and convergence/complexity industries as a budget for securing the future growth engine.

The techno park fostering budget for the sake of balanced local industry development and industry complex innovation cluster budgets also increased from 20 billion won (US$21.5 million) to 28 billion won (US$30.1 million) and from 39.3 billion won (US$42.3 million) to 54.2 billion won (US$58.4 million) respectively.

On-nara system to operate from New Year The On-nara system, which integrated 54 governmental central ministries' affairs management systems, will operate from New Year.

The Ministry of Government Administration and Home Affairs (MOGAHA) announced that the On-nara system will begin operation on January 2, 2007. This On-nara system will standardize and systematize all processes such as policy plans, affairs material preservation and utilization.

The government plans to create a digital nerve network to manage national administration in real-time by connecting with the national administration management in May, e-Integration assessment in June, and knowledge management system in October.

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