S. Korea aims to be top-three nanotech industry leader by 2015

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(Xinhua)
Updated: 2008-12-23 16:52

SEOUL -- South Korean government announced Tuesday its goal of becoming one of the top three nanotechnology industry leaders by capturing 15 percent of the global market by 2015.

According to the Ministry of Knowledge Economy, the country will also plans to acquire at least 30 core world-class technologies and help set up 500 related companies.

The ministry said the nanotechnology holds limitless potential for the country as it can improve existing products, help create new markets and offers leaders a chance to dominate the growing field.

South Korea has been continuously investing in the nanotechnology sector. Over the past eight years the country has injected 1.9 trillion won ($1.4 billion) into the industry, with 1.3 trillion won ($0.95 billion) going into R&D, the ministry said.

Of the remainder, 441.5 billion won went ($3.25 million) into building infrastructure and a little over 101.2 billion won ($74.56 million) to educate and train qualified personnel, it said.

As of 2005, the country ranked the fourth in terms of nanotechnology proficiency following the United States, Japan and Germany.