South Korea Announces Plans to Lead Global Nanotech Market

Filed in archive Government on December 25, 2008

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The Xinhua News Agency this week reported that South Korea aims to capture 15 percent of the global nanotech market within the next seven years, becoming one of the top three nanotechnology leaders worldwide.

"The Ministry of Knowledge Economy said in a public hearing that nanotechnology holds limitless potential because it can improve existing products, help create new markets and offers leaders a chance to dominate the growing field," the article states. "South Korea poured 1.9 trillion won ($1.4 billion) into the sector in the last eight years... as of 2005, the country ranked fourth in terms of nanotechnology proficiency after the United States, Japan and Germany."

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