The South Korean government and ruling party have revealed plans to double funding for basic science research by the year 2022.
The extra funds will be allocated to keep South Korea ahead of the technological curve and create some much-needed jobs in high-paying ICT sector.
Kim Min-ji reports.
South Korea plans to put greater emphasis on research and development in the coming years -- as part of efforts to foster new growth engines and create new jobs.
The agreement was reached Tuesday during a policy coordination meeting between the government and the ruling Democratic Party of Korea.
"We are now in an era where a country's competitiveness is determined by the speed at which innovations in science and technology lead to the creation of new industries and new growth engines. In order to meet the fast changing trends of the fourth industrial revolution and changes in society, we must step up innovation across all areas."
For starters, the country plans to double the funding for basic science research to some 2-point-2 billion U.S. dollars by 2022.
This will be used to support innovative projects initiated by researchers,... and is aimed at encouraging creative research and development.
The two sides also agreed to increase the budget for R&D to tackle environmental issues,... such as fine-dust pollution, to some 1 billion dollars.
And the government plans to revive a ministerial-level meeting on science and technology -- so that related ministries can step up coordination and work hand in hand.
This is all part of President Moon Jae-in's goal of achieving innovative growth -- by which technological innovation leads to economic growth and job creation.
"This will be the basic blueprint for innovative R&D under the Moon Jae-in government over the next five years. Through enhanced innovation, we will achieve innovative growth, create new jobs and improve people's lives."
The ruling party also vowed to do its part to amend relevant laws and increase the budget to ensure the smooth implementation of the policies and measures.
The government will unveil a comprehensive plan on the matter in mid-July.
Kim Min-ji, Arirang News.
