South Korea’s investment in research and development next year is expected to top 100 trillion won or 90 billion U.S. dollars for the first time.
22 percent of it will be funded by the government, and the rest will be from the private sector.
President Moon Jae-in announced the figure today at the Blue House at a meeting of the Presidential Advisory Council on Science and Technology.
He said the budget will also be used to develop vaccines and treatments for COVID-19.
It’s important, he said, to promote private investment by providing incentives for technologies that have already been proven competitive, and while infant technologies will be supported by the government.
The Blue House said President Moon also called for researchers to involve more women in R&D.

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