research and development Archives | Be Korea-savvy
S. Korea Ranks 2nd Among OECD Nations in R&D Spending as Portion of GDP: Report

S. Korea Ranks 2nd Among OECD Nations in R&D Spending as Portion of GDP: Report

SEOUL, April 20 (Korea Bizwire) — South Korea placed second in research and development (R&D) spending as a portion of its gross domestic product (GDP) among major developed countries in 2020, but its tepid growth in recent years calls for more policy support, a report said Wednesday. South Korea’s R&D expenditures reached 93.1 trillion won [...]

S. Korean Shipbuilders Open R&D Centers in Pangyo

S. Korean Shipbuilders Open R&D Centers in Pangyo

SEOUL, Jan. 7 (Korea Bizwire) — As global shipbuilding trends are shifting towards a focus on technology, including self-driving ships, Korean shipbuilders are opening a string of research and development (R&D) centers in Pangyo, a district in Seongnam, Gyeonggi Province. Pangyo is often cited as a Korean version of Silicon Valley. Shipbuilding conglomerate Hyundai Heavy [...]

Hyundai Motor Group Accelerates Shift Towards Electrification

Hyundai Motor Group Accelerates Shift Towards Electrification

SEOUL, Dec. 28 (Korea Bizwire) — Hyundai Motor Group is speeding up the shift towards electrification by abolishing the engine development center within its research and development (R&D) headquarters. According to industry sources, the group carried out a top-to-bottom restructuring of its R&D headquarters by transitioning the existing powertrain organization into an electrification development unit [...]

S. Korea’s R&D Spending 5th Largest Among OECD Members in 2019

S. Korea’s R&D Spending 5th Largest Among OECD Members in 2019

SEOUL, Dec. 9 (Korea Bizwire) — South Korea invested almost 90 trillion won (US$83 billion) in research and development (R&D) last year, making it the fifth-largest spender among members of the Organization for Economic Cooperation and Development (OECD), the ICT ministry said Wednesday. The South Korean government and the private sector’s total R&D spending in [...]

Major S. Korean Firms’ R&D Spending Gains 2 pct This Year

Major S. Korean Firms’ R&D Spending Gains 2 pct This Year

SEOUL, Dec. 9 (Korea Bizwire) — Major South Korean companies’ spending on research and development (R&D) rose nearly 2 percent in the first three quarters of the year despite weaker sales amid the coronavirus pandemic, a corporate tracker said Wednesday. R&D expenditures by 217 large companies in Asia’s fourth-largest economy totaled 40.2 trillion won (US$37 [...]