Government to allocate W1tr to energy R&D

The government plans to invest 1.36 trillion won ($1.22 billion) in energy-related research and development this year, the Ministry of Knowledge Economy said Sunday.

Targeted R&D projects for investments will include technology development, improving human resources, international cooperation, and standardization in the energy sector. Most of all, the ministry will allocate 700 billion won to technology R&D, while human resources and international cooperation projects will attract 40.3 billion won and 44.2 billion won, respectively.

Key focuses of technology R&D will include renewable energy, technology conversion for energy source development, and safety improvement of nuclear power plants.

Renewable energy sources that can seek government support for their R&D activities include wind power, solar power, fuel cells, bio-fuels and waste management.

(jyseo@heraldcorp.com)