Korea to spend $1.4 million on 'Nano Fusion 2020' in 2013

Park Sae-jin Reporter() | Posted : April 9, 2013, 11:13 | Updated : April 9, 2013, 11:13
The government said Sunday it will spend 1.53 billion won (US$1.4 million) this year on the "Nano Fusion 2020," a project to commercialize technology combined with nano technology.

The figure marks an increase of 128 percent from 6.7 billion won last year, the Ministry of Trade, Industry and Energy said.

This year, study assignments will be chosen with emphasis on four types of technology in the categories of NT-IT (nano technology-information technology) and NT-ET (nano technology-energy technology), the ministry said.

The ministry said it will select technologies which can be commercialized within three years and provide them with 8.3 billion won, in addition to money for the project.

Commercialization means that:
-Products developed generate revenues or receive delivery orders.
-Developer rolls out trial commercial goods.
-Productivity increases 10 percent or more as a result of the introduction of nano process.

Besides, technological support will be provided by a group of advisers consisting of experts, the ministry said.

On Monday, the government held a briefing session on the "Nano Fusion 2020" at the National Research Foundation of Korea with about 200 people from the industrial and academic circles and think tanks attending.

By Ayaka Erin Tobari
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