Korea Comes 6th in R&D Spending

Korea ranks sixth in the world in terms of spending on research and development, with the U.S. topping the list.

But Korea comes first in terms of the proportion of GDP it invests in technological development with roughly four percent.

About 76 percent of the investment came from the private sector, with foreign investors accounting for a mere 0.3 percent. Despite the heavy spending, researchers say more needs to be done to ensure practical application of research.

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