Ministry of Oceans and Fisheries Invests 782.5 Billion KRW in R&D... Largest Ever

Government R&D Ministries Joint Online Project Briefing Session

[Sejong=Asia Economy Reporter Joo Sang-don] The Ministry of Oceans and Fisheries will make the largest-ever investment in research and development (R&D) in the marine and fisheries sector this year.

On the 19th, the Ministry of Oceans and Fisheries announced that it will hold a joint government R&D ministry briefing session from the 18th to the 20th (Wednesday) together with 11 ministries including the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy.

Until last year, the joint government R&D ministry briefing sessions were held regionally on-site, but this year they will be conducted online to prevent the spread of the novel coronavirus infection (COVID-19). On the last day, the 20th, the Ministry of Oceans and Fisheries plans to provide information on "2021 R&D investment directions and new projects in the marine and fisheries sector" in the afternoon.

This year, the Ministry of Oceans and Fisheries plans to invest 782.5 billion KRW, the largest amount ever, in R&D. In addition to existing R&D projects, this year there will be calls for 27 new projects totaling 133.4 billion KRW, including "Digital New Deal core projects" such as smart ports, autonomous ship logistics processing technology, smart seafood fresh distribution technology, and non-face-to-face illegal fishing monitoring technology; "Green New Deal projects" such as eco-friendly ship mixed fuel technology and marine antiviral technology development to respond to the post-COVID era; and support projects for commercialization of promising startup technologies of marine and fisheries companies and localization of core equipment.

Oh Young-rok, Director of the Marine Science and Technology Policy Division at the Ministry of Oceans and Fisheries, said, "As this year’s marine and fisheries R&D budget is the largest ever, increasing by 13.3% compared to last year, we hope these projects will serve as a catalyst for marine and fisheries companies struggling due to COVID-19 to overcome difficulties and take a leap forward."