Press Release

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Budget for Environmental Technology to be expanded (June 18, 2002)

Date:
2002-06-18
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5,773

The Ministry of Planning and Budget announced a new plan  for Research and Development(R&D) budget allocation on June 15, 2002. It reports that budget for six new technology sectors  in the government's research and development, including Environment Technology, will be raised to 36 percent by 2006 from the present 26.6 percent.

The six new technology sectors are Environment Technology(ET), Information Technology(IT), Biotechnology(BT), Nanotechnology(NT), Space Technology(ST), and Cultural Technology(CT).

The ministry also said the weight placed on IT will be reduced in favor of Environment Technology, Biotechnology, and Nanotechnology. The new plan particularly points out that  Environmental technology needs more supports in national scope, because environmental industries are one of the most promising and fastest growing industries. According to the ministry, it is estimated that the environment industry will grow from 4,950 in 1999 to 8,850 billion dollars in 2010. The ministry also notices that ET will become more important in a near future as people's demand for better environment is growing and international regulations are tightening.

To look at the distribution of the budget in ET, 96.9% is being allocated in Research and Development, resulting the lack of investment in raising human resources and building infrastructure. Thus, it is analysed that the lack of infrastructure and highly educated specialists are the obstacles of development of ET. Especially, sectors to require sophisticated environmental knowledge such as clean development mechanism and environmental consulting are experiencing serious problems with the lack of specialists.

To cope with these problems, more budget will be allocated in raising human resources and build infrastructure according to the new plan.