R&D investment to reach 5 pct of GDP in 2013: gov`t

SEOUL, Jan. 13 (Yonhap) -- The government said Tuesday it plans to significantly
increase investment in research and development (R&D) in the industrial
technology sector to meet future growth requirements.
The Ministry of Knowledge Economy's five-year technology innovation plan,
announced at the National Science and Technology Council meeting, calls for
boosting total R&D from 3.47 percent of the total gross domestic product (GDP) in
2007 to 5.0 percent in 2013.
The plan also calls for a total of 287 trillion won to be invested in R&D between
this year and 2013 by both the government and private sector, the ministry said.
If investment reaches such levels, technology development derived from R&D may
account for 50 percent of economic growth in 2013, up from around 30 percent in
2006, it added.
The ministry expects the number of domestically made products entering the top
global sales rankings will nearly double to 1,000 in the target year from 583 in
2007. South Korea's technology levels, in reference to technology produced by
market leaders, are likely to jump to 88.2 percent from 72.5 in 2008.
yonngong@yna.co.kr
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