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.