Strategic Government R&D Budget Allocation of Future Growth Engine Sector in Korea

The goals of R&D Budgeting are to provide the outlays of government R&D budget allocation and adjustment for the strategic investment in government R&D programs, and it is directly followed by establishing the directions and the standards in overall government R&D investments and related budget deliberation.R&D investment follows the policy coordination, in particular. Policy coordination provides guidelines to program coordination. Policy coordination will provide R&D programs with S&T goals and proper budget estimates. It must ensure that the goals are reached through the most efficient ways. Thus, it is important not only to follow the strategy plan and to track the development in reaching the objectives, but also to continuously monitor changes in the R&D environment and eventually to adapt the activities to new circumstances. In other words, the detailed investment strategies in association with S&T policies and technology development status which are subject to global environment changes are investigated. There can be many ways to deal with it. Here, Korea?s case study will be introduced and it has been evolved for finding effective and efficient way to invest at this moment. This paper will cover the concepts of R&D program coordination and budget allocation, their roles in future growth engine in KOREA. First, Korea?s case of establishing government R&D direction and standards will be introduced. It let us to share the main ideas and procedures of S&T policy/technology priority setting. Second, budget allocation in program point of view and detail procedure will be presented. Also, brand new results of Korea?s R&D program coordination and budget allocation will be introduced in practical sense.