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THU, 2014-11-27  KST

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Korea tops OECD's R&D-spending-to-GDP ratio
Updated: 2014-07-28 03:10:54 KST

Korea has topped another OECD ranking, this time in research and development funds.
A report by the Korea Institute of Science and Technology Evaluation and Planning says Korea's R&D budget made up the highest percentage of GDP in 2013 among advanced nations.
The numbers indicate the country's R&D intensity, or R&D expenditure as a percentage of GDP, came to 1.1-4 percent, beating Iceland and Finland for the top spot.
Korea spent 13.7 billion dollars last year for governmental R&D projects, the sixth-largest among the countries tallied.
The United States spent the most, followed by Japan, Germany, France and Britain.

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