SEOUL, Aug. 29 (Korea Bizwire) — South Korea will funnel 5 trillion won (US$3.8 billion) into research and development (R&D) next year to promote 12 strategic technologies as part of the country’s long-term growth plan to take the global lead in up-to-date technologies, the science ministry said Tuesday. The 2024 amount increased 6.4 percent from [...]
SEOUL, April 26 (Korea Bizwire) — Major South Korean firms’ spending on research and development (R&D) swelled 14 percent in 2022 from a year earlier despite sharply decreased operating income amid an economic slowdown, a market tracker said Wednesday. Combined R&D expenditures by 231 out of the country’s top 500 companies came to 68.4 trillion [...]
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, Aug. 18 (Korea Bizwire) — South Korea’s top three battery makers invested a total of 1 trillion won in research and development (R&D) in the first half of this year. The combined R&D spending of LG Energy Solution Ltd., SK On Co. and Samsung SDI Co. together was estimated at 997.1 billion won (US$759 [...]
SEOUL, April 27 (Korea Bizwire) — Major South Korean firms’ spending on research and development (R&D) expanded more than 8 percent in 2021 though their sales weakened amid the coronavirus pandemic, a market tracker said Wednesday. Combined R&D expenditures by 224 out of the country’s top 500 companies by sales stood at 60.4 trillion won [...]
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 [...]
SEOUL, Feb. 3 (Korea Bizwire) — South Korea will earmark 841 billion won (US$697.4 million) for research and development of key materials and parts this year in a move to reduce dependency on foreign supplies and boost competitiveness of local industries, the industry ministry said Thursday. It is up 22 percent from last year’s budget, [...]
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 [...]
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 [...]
SEOUL, Dec. 1 (Korea Bizwire) — More than 1 in 4 South Korean small businesses had to abort research and development (R&D) activities because of the pandemic last year, a survey showed Tuesday. The Korea Industrial Technology Association conducted a survey of 479 companies with a dedicated institute or a research facility, among which 65 [...]