Korea to hike R&D budget in 4 years

The Ministry of Trade, Industry and Energy has unveiled the budget 3.2 trillion won to finance research and development (R&D) next year. It is the first time in four years that the budget has increased.

One-third of the budget, about 1.4 trillion won, would go to upgrading added-value of manufacturing companies.
The other 1.1 trillion won would be spent in supporting the new emerging industries, which would power the economy in the coming years.
The remaining 500 billion won would be available provided to the industries in temporary distress

The ministry and its umbrella organizations would accept applications on the home pages for the R&D budget.