South Korea still pondering where, how much to spend on nanotech

from the World-Watch dept.
According to a report in the Korea Herald (7 January 2002) the South Korean governmentís Board of Audit and Inspection (BAI) is planning to carry out special inspections of government funding in the nanotechnology, as well as the information technology and biotechnology sectors because "up till now no comprehensive examination of how funds were spent were made." This may be necessary because, according to another report from the Asia Pulse news service (21 December 2001), the S. Korean government has decided to spend 13 trillion won (US$10.2 billion) to support the development of 77 technologies in six fields including nanotechnology as well as information technology and biotechnology. The funding is part of the 35 trillion won the government will spend on research and development over the next five years.