SEOUL, Jul. 19 (Korea Bizwire) — Science minister nominee Yoo Sang-im on Friday vowed to make every effort to revamp South Korea’s research and development system to help the country take a global lead in advanced technologies. “We need to focus on restoring and securing technological sovereignty at a time when global powers are competing [...]
SEOUL, May 9 (Korea Bizwire) — U.S. automotive company BorgWarner Inc. has opened a research and development center in South Korea, which is expected to help stabilize the supply chain in the sector, the industry ministry said Thursday. The new center, located in Daegu, 237 kilometers south of Seoul, will focus on developing integrated driving [...]
SEOUL, Apr. 9 (Korea Bizwire) — Big companies in South Korea increased their investments in research and development (R&D) activities last year despite decreased earnings, a corporate data tracker said Tuesday. Their combined R&D investments rose 9.4 percent to 73.42 trillion won (US$54 billion) in 2023 from 67.14 trillion won a year earlier, according to [...]
SEOUL, Apr. 5 (Korea Bizwire) — South Korea’s industry ministry said Friday it has designated six overseas partner institutions to establish global technology cooperation centers, aiming to advance research projects focused on core technologies. The country will seek to establish such centers under ties with MIT, Yale University, Purdue University, Fraunhofer, Johns Hopkins University and [...]
SEOUL, Apr. 3 (Korea Bizwire) — The government plans to draw up its largest-ever budget for research and development (R&D) projects next year, the presidential office said Wednesday. Park Sang-ook, senior presidential secretary for science and technology, said the government is working to overhaul the way it supports R&D projects while “sharply increasing” the relevant [...]
SEOUL, Dec. 7 (Korea Bizwire) – South Korea invested more than 112 trillion won (US$84.6 billion) in research and development (R&D) last year, making it the second-largest spender in the world in comparison to the size of its economy, the science ministry said Thursday. The combined R&D spending by the South Korean government and the [...]
SEOUL, Nov. 27 (Korea Bizwire) – South Korea plans to expand its research and development projects with foreign firms, as part of its efforts to help local firms gain competitiveness in new technologies, officials said Monday. Under the plan, the government aims to spend at least 5.4 trillion won (US$4.1 billion) in research and development [...]
SEOUL, Jan. 16 (Korea Bizwire) — South Korea will earmark 1.5 trillion won (US$1.22 billion) over the next 10 years for research and development projects aimed at nurturing second-tier, high-potential companies into global players and boost their exports, the industry ministry said Monday. It is part of the government’s comprehensive plan to boost the number [...]
SEOUL, Oct. 28 (Korea Bizwire) — South Korea will funnel 4.12 trillion won (US$2.9 billion) into research and development next year to promote 12 selected strategic technologies as part of the country’s long-term future growth plan, the science ministry said Friday. The Ministry of Science and ICT said in a report released at a meeting [...]
SEOUL, May 13 (Korea Bizwire) — LG Household & Health Care (H&H) Ltd., a major South Korean producer of cosmetic and health care products, said Friday it has opened a new research and development (R&D) center in Hokkaido, Japan, focusing on microbiome beauty products. LG H&H said Hokkaido provides the optimal environment for conducting research [...]