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S. Korea to increase budget for basic research

All News 16:48 February 28, 2018

SEOUL, Feb. 28 (Yonhap) -- South Korea plans to double the size of its budget set aside to support basic scientific research by 2022, the government said Wednesday.

The Ministry of Science and ICT said it will spend 2.52 trillion won (US$2.32 billion) to strengthen basic sciences in the next four years, up from the 1.26 trillion won assigned for 2016.

The plan, which is subject to parliamentary approval, was announced during a public hearing in Seoul.

The ministry said it wants to allocate most of the budget to up-and-coming researchers who have good potential to make scientific breakthroughs.

The money will help researchers focus on their work without worrying about funding issues, which can be distracting and hinder progress, officials said.

Noticeably, the ministry will allocate more funds to assisting researchers with innovative ideas.

Also, the ministry said it aims to provide "minimum funding" to scientists who have not been tapped to get full-scale state support, so they can move forward with their research projects.


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