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.