Home Business State R&D spending exceeded 20,000 billion won in 2019

State R&D spending exceeded 20,000 billion won in 2019

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State R&D spending exceeded 20,000 billion won in 2019 - 1

SEOUL, June 27 (Yonhap) – Spending on research and development (R&D) projects by the South Korean government exceeded 20 trillion won ($ 17 billion) in 2019, ministry report said. of Science and ICT.

The 20,600 billion won spent was used to finance 70,000 R&D projects and marked an increase of 4.3% compared to the 19,700 billion won recorded the previous year, according to the report.

Even if the overall amount of the State R&D budget increased, the annual growth rate was on average 2.2% for the period 2015-2019, which is much lower than the increase of 6.4% for the overall budget for the same period.

On average, each state-supported R&D project received 290 million won last year, down 20 million won from the previous year, according to the ministry.

rainmaker0220@yna.co.kr

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