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South Korean President Yoon Suk Yeol recently vowed to spend national research and development (R&D) funds on fostering the country’s capabilities in cutting-edge technology. He also signaled possible expansion in government spending on key R&D sectors.
Yoon also called for innovative research support during his gathering with seven young Korean scientists on Thursday ahead of his attendance at the 50th anniversary of the establishment of Daedeok Innopolis, a research and development district in Daejeon.
In addition to his previous pledge of a thorough review of the R&D budget cuts, the latest meeting with scientists was considered a move to address criticism for the budget cuts, industry analysts say.
Yoon’s emphasis on bold yet appropriate state spending on R&D projects during the government fiscal strategy meeting in June suggested the government’s determination to make prudent R&D investments.
Funding even R&D projects that yield no returns can be a waste of state funds. The scientific community needs to review its previous expenditures on state budgets and correct inefficiencies in line with Yoon’s emphasis on reasonable allocation of R&D budgets.
The community should take a new stance by refraining from labeling R&D budget discussions as a threat to the national research ecosystem or a national disaster.
Efficient spending of R&D budgets on numerous projects should be thorough as the resources are limited. It is essential for the government and the science community to align their interests in the best interest of the nation. The ruling and opposition parties should also join hands to facilitate efficient government investment in R&D projects by reaching a consensus on the passage of necessary bills.
By Editorial Team
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