Support The Development Of Military Technology, South Korea Disburses Funds Of Up To IDR 2.9 Trillion

South Korean military technology illustration. (Wikimedia Commons/대한민국 /Republic of Korea Armed Forces)

JAKARTA - The South Korean government will invest 251 billion won (approximately Rp.2,997,090,891,160) to facilitate 250 state-run projects, in which the integration of advanced technology with military operations will enhance defense capabilities, the Industry Ministry said on Tuesday.

The move to boost private-military partnerships coincides with the importance of strengthening technological prowess, caused by the escalating conflict between the world's two largest economies, the Korea Times reported March 2.

South Korea has long sought ways to identify strategies, to better limit and navigate external shocks triggered by IT disputes. This strategy is increasingly extending to defense, including issues of national security.

Fourteen government ministries and agencies, including the Ministry of Commerce, Industry and Energy and the Defense Acquisition Program Administration (DAPA), said they had allocated 251 billion won to advance 250 projects this year, up 19.2 percent from a year earlier.

South Korean military technology illustration. (Wikimedia Commons/Korean Culture and Information Service/Jeon Han)

The projects including 47 new tasks are a continuation of previous initiatives, the first of which was launched in 1999 to contribute, not only to improving defense capability performance, but also to identifying drivers of economic growth in the private sector. sector.

A total of about 191.3 billion won will be spent on private military technology development, as well as 48.4 billion won on technology-sharing projects between the two.

In addition, seven projects will be awarded 37.7 billion won of financing to develop technologies involving autonomous driving, robotics, virtual reality (VR) and mixed reality (MR).

The 16.6 billion won will be invested in eight projects to help build the track record needed to underscore the steady demand for new technologies in the defense industry, which will be accelerated by the rapid commercialization of high-tech military equipment.

Meanwhile, nine projects will be awarded 193 billion won to advance space satellite and projectile technology, a very challenging initiative that requires intense and innovative efforts.

The South Korean government will run an office under the Institute for Civil-Military Technological Cooperation (ICMTC), a DAPA-supervised organization, this year to promote better defense technology and state-run projects.

A list of this year's projects will be available on the ICMTC website later this month.

"Strengthened cooperation between the military and the private sector will help accelerate the development of new technologies that will be applied to enhance the competitiveness of the country's defense system," the ministry said.