Gov't to spend 25 tln won on R&D for semiconductor, biotech, space: PM

SEOUL, March 23 (Yonhap) -- Prime Minister Han Duck-soo said Thursday the government plans to spend 25 trillion won (US$19.5 billion) by 2027 on research and development for key sectors, including the semiconductor, biotechnology and space industries.

The funding is aimed at promoting key industrial sectors and helping local firms win patents in them, Han told a meeting about policies on intellectual property rights.

"We will focus our national capabilities on occupying in advance key intellectual properties in the field of national strategic technology," Han said.

In the face of global economic slowdown and the nation's declining potential growth rate, the government has put a priority on securing intellectual properties in new technologies to revive economic growth, Han said.

"The government will make pangovernmental efforts to firmly establish a virtuous cycle ecosystem of the creation, utilization and protection of intellectual property," Han said.

kdh@yna.co.kr
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