The science ministry’s budget for research and development projects was cut by 12 percent on-year this year, but the ministry aims to expand spending on new technologies, officials said Thursday.

The Ministry of Science and ICT said it will spend a combined 5.86 trillion won (US$4.47 billion) on research projects this year, down from last year’s 6.67 trillion won.

By sector, the ministry will inject 4.69 trillion won into science and 1.17 trillion won into ICT this year.

The ministry said it aims to focus on securing strategic technologies, such as advanced biology, semiconductors and rechargeable batteries.

Source: Yonhap News Agency