Seoul Looks to Foster Innovation in Robotics

The Yonhap News Agency in Seoul reported that the Government has announced it will spend 100 billion WON (US$89.5 million) on robotics related projects to encourage growth in the cutting edge industry.

The joint support planned outlined by various ministries namely the economy education environment health and defence ministries, calls for state funds to the tune of 30 billion WON to be made available to pilot projects up to the year 2013.

“Robotics is a high-tech value-added convergence industry with considerable growth that could receive a boost from state assistance”, the ministry of Knowledge said in a release. Under the new master plan, government ministries will provide funding up to 2 billion WON, a substantial increase from the 100-200 million WON worth assistance the provided in the past.

Seoul had allocated 740 billion WON for R&D in the robotic sector since 2002 but had spent only 10 million WON on projects that could fuel actual demand.

Under this new revised plan, pilot projects will involve areas of education defence fire fighting, security, manufacturing farming and medical services.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Choi, Andy. (2019, February 21). Seoul Looks to Foster Innovation in Robotics. AZoRobotics. Retrieved on November 05, 2024 from https://www.azorobotics.com/News.aspx?newsID=849.

  • MLA

    Choi, Andy. "Seoul Looks to Foster Innovation in Robotics". AZoRobotics. 05 November 2024. <https://www.azorobotics.com/News.aspx?newsID=849>.

  • Chicago

    Choi, Andy. "Seoul Looks to Foster Innovation in Robotics". AZoRobotics. https://www.azorobotics.com/News.aspx?newsID=849. (accessed November 05, 2024).

  • Harvard

    Choi, Andy. 2019. Seoul Looks to Foster Innovation in Robotics. AZoRobotics, viewed 05 November 2024, https://www.azorobotics.com/News.aspx?newsID=849.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.