April 17, 2009

South Korea aims to boost robotics

South Korean officials said Friday they have created a plan to boost the nation into the top three countries for robotics technology and applications by 2013.

The officials said the plan was finalized Friday at a meeting of the National Science and Technology Council that was chaired by President Lee Myung-bak, The Korea Times reported Friday.

The Robot Special Act, which calls for a $750,000 investment in research and development, aims to propel South Korea into the top three nations for robotics by 2013 and capture 20 percent of the global market by 2018.

By 2013, the domestic robot market will reach four trillion won ($3 million) in value, lift Korea's global market share to 13.3 percent and boost robot exports to $1 billion, Knowledge and Economy Minister Lee Youn-ho said.