SEOUL, Apr. 30 (Korea Bizwire) — South Korea ranked No. 1 in the world in terms of its ratio of research and development (R&D) spending to gross domestic product, data showed Tuesday. The latest data by the Organization for Economic Development & Cooperation (OECD) showed South Korea’s R&D intensity rate standing at 4.55 percent as [...]
SEOUL, Apr. 24 (Korea Bizwire) — South Korean companies lag far behind their Asian peers in Japan, China and Taiwan in research and development investment, a local think tank said Wednesday. Thirteen Korean companies made it to the ranks of the world’s top 500 R&D companies last year. South Korea ranked ninth in terms of [...]
SEOUL, May 23 (Korea Bizwire) — Samsung Electronics’ announcement yesterday of plans to operate five AI research and development centers around the world gave industry insiders insight into Vice Chairman Lee Jae-yong’s vision of the future, as Samsung prepares for the next generation of technological advancements. Experts say that Lee’s most recent global traverse following [...]
SEOUL, Dec. 28 (Korea Bizwire) – President Moon Jae-in promised to double support for young scientists and their research projects Thursday, also vowing to nearly double government investment in independent research and development (R&D) programs. “The government will support with all its strength the path of science that you will walk,” the president said in [...]
SEOUL, Aug. 18 (Korea Bizwire) — South Korea’s major electronics firms — Samsung Electronics Co. and LG Electronics Inc. — are expected to allocate a record-high investment to research and development projects this year, industry watchers said Friday. According to the sources, Samsung Electronics invested 7.9 trillion won (US$6.9 billion) in research projects over the [...]
SEOUL, Feb. 20 (Korea Bizwire) – A study by the Institute for Information & Communications Technology Promotion revealed Monday that 51 connected car companies in Korea spend a disappointing average of 980 million won ($854,148) on research and development each year. The figure is 2.7 percent of average sales revenue estimated at 36.37 billion won, [...]
ULSAN, Jan. 12 (Korea Bizwire) – Ulsan is set to become a new R&D hub for South Korea’s battery industry. According to city officials on Wednesday, construction of UNIST’s Battery R&D Center will wrap up in March. The 17.7-billion-won ($15 million) center was funded by both UNIST (2.7 billion won) and the government (15 billion [...]
SEOUL, Dec. 27 (Korea Bizwire) – Samsung Electronics Co. retained its No. 2 spot in a global ranking for industrial research and development spending for the third consecutive year, a survey by the European Commission’s Economics of Industrial Research and Innovation showed Tuesday. According to the annual survey, 75 South Korean firms were among the [...]
SEJONG, Dec. 6 (Korea Bizwire) – South Korea will spend a total of 500 billion won (US$428 million) in the coming three years to foster the rapidly growing drone industry as a new growth engine for Asia’s fourth-largest economy, the trade ministry here said Tuesday. “The drone technology generates massive ripple effects on conventional industries, [...]
SEOUL, Nov. 8 (Korea Bizwire) – The Ministry of Science, ICT and Future Planning announced Monday that 17 researchers from Kolmar BNH will be sharing 16.5 billion won ($14.4 million) in compensation for their dedication and hard work. Kolmar BNH was established in 2006 by the Korea Atomic Energy Research Institute and Korea Kolmar Holdings [...]