ID :
206814
Tue, 09/13/2011 - 11:07
Auther :
Shortlink :
https://oananews.org//node/206814
The shortlink copeid
S. Korea's ratio of R&D spending to GDP ranks 3rd-highest worldwide
SEOUL, Sept. 13 (Yonhap) -- South Korea's ratio of research and development (R&D) spending to gross domestic product (GDP) ranked the third-highest in the world in 2010, a government report showed Tuesday.
But the sheer amount of R&D spending by the South Korean government, corporations, research institutes and universities was still well below that of major advanced economies, according to the report published by National Science and Technology Council.
The local government, research institutes, universities and corporations spent a combined 43.85 trillion won (US$37.93 billion) on R&D activity in 2010, up 15.6 percent from the previous year.
The country's R&D expenditures accounted for 3.74 percent of its GDP last year, up 0.18 percentage points from one year ago, said the report based on a survey of 29,526 public and private organizations.
The ratio was the third-highest among the member countries of the Organization for Economic Cooperation and Development (OECD), trailing only behind Israel and Finland.
But the sheer amount of South Korea's R&D spending was far eclipsed by R&D expenditures in other countries.
The United States shelled out $398.19 billion for R&D while Japan funneled $169.05 billion in 2009. Germany, China and France all outstripped South Korea in terms of the amount of the R&D spending in 2010.
South Korea's private sector took the lion's share of the country's R&D spending, showing higher corporate contributions to the national R&D budget than other countries that also drew significant amount of money from the public sector.
Corporations accounted for 74 percent of South Korea's 2010 R&D expenditures, while public institutions and universities contributed 14.4 percent and 10.8 percent, respectively, according to the report.
ylee@yna.co.kr
(END)
But the sheer amount of R&D spending by the South Korean government, corporations, research institutes and universities was still well below that of major advanced economies, according to the report published by National Science and Technology Council.
The local government, research institutes, universities and corporations spent a combined 43.85 trillion won (US$37.93 billion) on R&D activity in 2010, up 15.6 percent from the previous year.
The country's R&D expenditures accounted for 3.74 percent of its GDP last year, up 0.18 percentage points from one year ago, said the report based on a survey of 29,526 public and private organizations.
The ratio was the third-highest among the member countries of the Organization for Economic Cooperation and Development (OECD), trailing only behind Israel and Finland.
But the sheer amount of South Korea's R&D spending was far eclipsed by R&D expenditures in other countries.
The United States shelled out $398.19 billion for R&D while Japan funneled $169.05 billion in 2009. Germany, China and France all outstripped South Korea in terms of the amount of the R&D spending in 2010.
South Korea's private sector took the lion's share of the country's R&D spending, showing higher corporate contributions to the national R&D budget than other countries that also drew significant amount of money from the public sector.
Corporations accounted for 74 percent of South Korea's 2010 R&D expenditures, while public institutions and universities contributed 14.4 percent and 10.8 percent, respectively, according to the report.
ylee@yna.co.kr
(END)
