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The National Science and Technology Council met Tuesday and decided to expand public and private investment in research and development to 5 percent of GDP by 2012. In 2006, total investment in research and development was W27.3 trillion (US$1=W1,015), 3.2 percent of GDP; by 2012, that will grow to W64 trillion.
The council is the highest decision-making body on policies relevant to the field and coordinates inter-ministerial research and development plans. In order to break out of conventional government-led practice, the government appointed 13 members from the private sector including Samsung Electronics vice chairman Yoon Jong-yong and Korea Advanced Institute of Science and Technology President Suh Nam-pyo to sit on the body with 10 government ministers.
To strengthen competitiveness of national research institutes, the government decided to allow foreigners to head institutes and induce institutes to integrate or merge with one another.
(englishnews@chosun.com )
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