Category: News in Korea
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Gov’t to invest 129.3 bln won for technologies to achieve carbon neutrality
The government will spend 129.3 billion won (US$88.6 million) this year to support projects aimed at developing technologies that will help achieve carbon neutrality and ensure a stable supply of energy, the industry ministry said Wednesday. The projects include developing technologies related to renewable energy, such as next-generation solar power and hydrogen power, and the…
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Korea ranks No. 5 in global R&D investment
China’s R&D spending jumps 11.5 times over past decade Korea ranked No. 5 in terms of the amount of research and development (R&D) investments by the country’s businesses in 2023, with Samsung Electronics standing as the world’s top R&D investor in the chip industry, a report on the world’s top 2,000 investors showed on Wednesday.…
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S. Korea to invest 1.18 tr won in developing materials technologies
The industry ministry said Tuesday it will invest 1.18 trillion won ($809.3 million) this year to develop advanced technologies for materials and parts, a move aimed at enhancing the global competitiveness of major industries, such as semiconductors, rechargeable batteries and biopharmaceuticals. The amount marks a 3.2 percent increase from the corresponding tally for last year,…
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‘Science and Technology Innovation Fund’ Launched to Boost R&D in Semiconductors and AI
Government Aims for Over 1 Trillion Won Fund Through Public-Private Partnership On Feb, 4, the Ministry of Science and ICT announced the signing of a memorandum of understanding (MOU) for the establishment of the “Science and Technology Innovation Fund” at TP Tower in Yeongdeungpo-gu, Seoul. This initiative marks a significant step in South Korea’s efforts…
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South Korea Launches National Bio Committee to Propel Biotech Industry
Plans for Korean Bio Cluster and Mega Funds to Foster Innovation and GrowthOn Jan. 23, Acting President and Deputy Prime Minister Choi Sang-mok inaugurated the National Bio Committee at the Seoul Bio Hub. This event marked the first meeting of the committee, which is poised to become the central authority for bio policy in South Korea.…
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South Korea Announces Major Investment in Artificial General Intelligence Development
Ministry of Science and ICT to Allocate 931.3 Bil. Won Over 7 Years for AGI Advancement The race to develop artificial general intelligence (AGI) is heating up, with the South Korean government announcing a significant investment in this next-generation AI technology. On Jan. 24, the Ministry of Science and ICT revealed plans to allocate 931.3…
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S. Korea seeks to become one of 5 global leaders in biotechnologies by 2027
South Korea will work to export 30 trillion won (US$20.5 billion) worth of biotechnologies over the next three years to become one of the five leading nations in the industry, the startups ministry said Wednesday. To achieve such a goal, the Ministry of SMEs and Startups said it will create an innovative bio venture ecosystem…
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MOTIE discusses R&D collaboration with Israel in AI and tech
Korea and Israel review joint projects in AI and semiconductors The Ministry of Trade, Industry, and Energy (MOTIE) announced on the 13th that it held discussions with Israel’s Ministry of Innovation, Science, and Technology on policies for joint research and development (R&D) in advanced technologies, including artificial intelligence (AI), quantum cryptography, semiconductors, autonomous driving, and…
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S. Korea’s space agency discusses cooperation with European counterpart
South Korea’s national space agency said Wednesday it has discussed cooperation with its European counterpart as part of efforts to upgrade its space exploration capabilities. The Korea AeroSpace Administration (KASA) met with officials from the European Space Agency (ESA) and discussed various measures to expand bilateral cooperation in the space sector, according to KASA. KASA…
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Green light nears for Korea’s participation in Czech nuclear project
Mended ties with Westinghouse boosts prospects for final deal Korea appears to have taken a step closer to signing a deal worth 400 billion Czech korunas ($16 billion) in March to build nuclear reactors in the Czech Republic, as Westinghouse Electric is expected to end its two years of dispute with Korea Hydro & Nuclear…