{"id":2205169,"date":"2024-05-20T08:00:18","date_gmt":"2024-05-19T23:00:18","guid":{"rendered":"https:\/\/koreapro.org\/?p=2205169"},"modified":"2024-05-20T04:51:55","modified_gmt":"2024-05-19T19:51:55","slug":"yoon-pushes-for-rd-boost-scrapping-feasibility-studies-to-drive-growth","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/05\/yoon-pushes-for-rd-boost-scrapping-feasibility-studies-to-drive-growth\/","title":{"rendered":"Yoon pushes for R&#038;D boost, scrapping feasibility studies to drive growth"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korean President Yoon Suk-yeol <\/span><a href=\"https:\/\/www.president.go.kr\/president\/speeches\/BleAEU22\"><span style=\"font-weight: 400;\">emphasized<\/span><\/a><span style=\"font-weight: 400;\"> on Friday the need to maintain a sound fiscal stance while promoting private sector-led growth through deregulation and increased investment in research and development (R&amp;D). He called for the abolishment of the preliminary feasibility study for R&amp;D projects and advocated for a significant boost in R&amp;D investment to drive innovation and enhance public welfare.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Yoon also highlighted the importance of efficient fiscal management in addressing economic uncertainties. He stressed that the government must focus on allocating resources effectively, investing in key areas that promote sustainable growth and improve people\u2019s livelihoods.<\/span><\/p>\n<p><b>Why It Matters<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Yoon\u2019s proposal to abolish preliminary feasibility studies for R&amp;D projects aims to boost South Korean industries\u2019 competitiveness. Currently, R&amp;D projects exceeding $36.8 million (<\/span><a href=\"https:\/\/news.kbs.co.kr\/news\/pc\/view\/view.do?ncd=7952124\"><span style=\"font-weight: 400;\">50 billion won<\/span><\/a><span style=\"font-weight: 400;\">) require months-long feasibility studies before execution. Eliminating this requirement could accelerate innovation and investment, potentially giving South Korean companies an edge in the global market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, this decision carries certain risks. Preliminary feasibility studies serve to assess the economic viability and alignment of large-scale R&amp;D projects. Removing this vetting process could lead to the misallocation of resources to projects that may not yield the intended outcomes or provide adequate returns on investment.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/domestic-politics\/\"><span class=\"tag\">Domestic Politics<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/technology-cyber\/\"><span class=\"tag\">Technology &amp; Cyber<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korean President Yoon Suk-yeol emphasized on Friday the need to maintain a sound fiscal stance while promoting private sector-led growth through deregulation and increased investment in research and development (R&amp;D). He called for the abolishment of the preliminary feasibility study for R&amp;D projects and advocated for a significant boost in R&amp;D investment to drive [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2205170,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,27,29],"class_list":["post-2205169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-domestic-politics","tag-technology-cyber"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yoon pushes for R&amp;D boost, scrapping feasibility studies to drive growth - KOREA PRO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/05\/yoon-pushes-for-rd-boost-scrapping-feasibility-studies-to-drive-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yoon pushes for R&amp;D boost, scrapping feasibility studies to drive growth - KOREA PRO\" \/>\n<meta property=\"og:description\" content=\"South Korean President Yoon Suk-yeol emphasized on Friday the need to maintain a sound fiscal stance while promoting private sector-led growth through deregulation and increased investment in research and development (R&amp;D). 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