Seoul: The Republic of Korea will allocate 208.8 billion won (US$143.7 million) this year to global technology cooperation projects as part of its strategy to enhance technological competitiveness, the industry ministry announced.
According to Lao News Agency, this allocation represents a 25.9 percent increase compared to last year’s budget, as reported by the Ministry of Trade, Industry and Energy. The Republic of Korea plans to invest 94.2 billion won in international projects, aiming to advance technology development through bilateral cooperation and participation in multilateral funding programs like Eureka and Eurostars, led by the European Union.
Furthermore, the nation will commit an additional 105.2 billion won to establish industrial technology collaboration centers at renowned research institutions worldwide. These funds will also support the initiation of mid- to long-term joint research projects focused on developing core technologies essential for future growth engines.
An additional 3.5 billion won will be dedicated to encouraging global entities to invest in local research and development projects and fostering cooperation between domestic and foreign companies.