Korea Invests $2 Billion in Nanotechnology

By Soon-A Cho  |  Posted 2003-05-07
Nine Korean government agencies, including the ministries of Information and Communication, Science and Technology and Commerce, Industry and Energy, have joined together to launch the $2 billion 2003 NanoTechnology Development Program.

The government in Seoul, which has been working to promote nanotechnology since last year, announced that the investment program will support R&D for core research, securing R&D infrastructure and bolstering commercial scale applications of nanotechnology.

Last years investments in nanotechnology laid the basis for R&D, training scientists and building the research infrastructure, according to officials. Expanding an initial R&D investment of $800 million by $400 million was largely credited with propelling Korea into sixth place worldwide in terms of the number of nanotechnology related research theses and patents.

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