S. Korea to spend W4.3tr on defense R&D this year
South Korea will invest 4.3 trillion won ($3.9 billion) in research and development in the defense sector this year to secure cutting-edge technologies and boost the industry's competitiveness, the arms procurement agency said Monday.
The amount is up 10 percent from 3.9 trillion won earmarked last year and includes 631.8 billion won for the research and development of core weapon technologies, according to the Defense Acquisition Program Administration.
Under its 2021 plan, the agency said it will push for the development of indigenous weapons parts and establish consortiums of companies, universities and research centers to carry out various development projects.
To better cope with disasters and build a safer society, the agency said it will also actively support the transfer of defense technologies to the civilian sector.
"We will share our policy direction with other organizations and strengthen cooperation for the development of our defense science technology and the growth of the industry," an agency official said. (Yonhap)