S Korea to invest $677 mln in energy research, development this year

16:59, April 01, 2010      

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The South Korean government said Thursday it will invest 763.9 billion won (677.6 million U.S. dollars) in energy research and development (R&D) projects this year, which includes development of eco-friendly technologies and future power generators.

The Ministry of Knowledge Economy said the new investment plan is nearly 17 percent of the ministry's total R&D budget of 4.4 trillion won (3.9 billion U.S. dollars) for this year, as 244.9 billion won (217.4 million U.S. dollars) will be spent on developing energy-related technologies, while 240.1 billion won ( 213.1 million U.S. dollars) will be allocated to renewable energy growth.

Also, 267.0 billion won (237.0 million U.S. dollars) will go to the nuclear and fusion energy sector and an additional 11.9 billion won (10.6 million U.S. dollars) will be used on R&D for storing nuclear waste and by-products, it added.

The plan is also part of an effort to enhance measures in dealing with climate change, securing natural resources, and growing green-energy sources, the ministry said.



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