S. Korea to spend 1.18 tln won on basic research in 2019

SEOULSouth Korea said Wednesday that it plans to spend more than 1 trillion won (US$891 million) on strengthening the basic science sector in 2019.

The 1.18 trillion-won budget — up 208.6 billion won from 2018 — is subject to parliamentary endorsement later this year, the Ministry of Science and ICT said.

The ministry said it will allocate 134 billion won into up-and-coming researchers who possess good potential to make scientific breakthroughs.

The money will help researchers focus on their work without worrying about funding issues, ministry officials said.

The ministry said it will allocate more funds to assisting researchers with innovative ideas.

Next year, the ministry will improve the evaluation system with a focus on “process” rather than “results” as part of efforts to guarantee more autonomy for researchers in the field, officials said.

Source: Yonhap News Agency

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