Science Ministry to inject W4.9tr into ICT projects

By Korea Herald
  • Published : Mar 9, 2014 - 20:06
  • Updated : Mar 9, 2014 - 20:06
South Korea’s Science Ministry said Sunday it will inject nearly 4.9 trillion won ($4.6 billion) into beefing up the country’s information infrastructure this year.

The Ministry of Science, ICT and Future Planning said it will invest 3.9 trillion won in 786 projects headed by government bodies and another 978.2 billion won in 5,990 projects by provincial authorities.

The goal is to improve the livelihoods of South Koreans by boosting efficiency of local companies and state entities incorporating more information-related science in their tasks.

The ministry said it also allocated 302 billion won in boosting online security amid a series of leakage of personal data in the industry, along with 68 billion won in developing new mobile technologies.

Another 243.3 billion won will go toward developing latest technologies in keeping with the so-called Internet of Things, which will create massive demand for new electronics and software. (Yonhap)