Reinforced R&D support for the Ministry of Science and Technology, the Ministry of Industry, and the Ministry of SMEs
This year, the government will significantly increase the budget for technology development (R&D) for materials, parts, equipment (minister manager) compared to last year. The Ministry of Science and ICT and the Ministry of Trade, Industry and Energy each announced plans to support ICT industrial technology R&D in 2021. Both government ministries announced that they plan to expand material, parts, and equipment R&D support by more than 20% from last year.
After Japan’s export restrictions in July 2018, the necessity of technology independence emerged in Korea. For the first time last year, the government created a special account for the small manager and provided technical support for a total of 2,745 billion won.
On the 4th, the Ministry of Science and Technology announced that it will provide a total of KRW 5.816 trillion in the field of science and technology and ICT this year. This is a 12% increase from last year’s 5.2 trillion won. Among them, 2879 billion won will be invested in core technology to strengthen the small manager’s self-reliance capability. This is a 24.6% increase from last year (2309 billion won).
On December 30, the Ministry of Industry also announced that it would support this year’s industrial technology development with a total amount of KRW 4.951.8 billion. A total of 1.55 trillion won is invested in the small manager. This is an increase of 21.8% over the previous year. Materials and parts technology development 886 billion won, material parts base construction 195.4 billion won, material parts global investment linkage 9.7 billion won, Innovation Lab (LAB) 9.3 billion won, 16.7 billion won will be provided for the development of new steel industry technology.
The Ministry of SMEs and Startups also announced that it will invest a total of 2.55 trillion won, up 23% from last year, to the small manager. By field, semiconductors and displays are the most at 32%. In addition, it plans to invest in 17% for electrical and electronic equipment, 17% for mechanical metals, 15% for basic chemicals, and 10% for automobiles.
The government plans to explain the specific details, the timing of the project contest, and the procedure through the’online government R&D project ministries joint briefing’ for three days from the 18th to the 20th, led by the Ministry of Science and Technology.
You can watch it on Naver TV, Kakao Channel, and YouTube. The R&D project under the jurisdiction of the Ministry of Industry will be held at 10:30 am on the 19th.
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