South Korean PM vows to continue investment in technology

Prime Minister Hwang Kyo-ahn pledged Tuesday to continue South Korea's investment in science and technology.

He also said the government will make further efforts to establish research infrastructure for scientists and engineers.

He made the comments at an exhibition center in Ilsan, just northwest of Seoul. He did not elaborate.

South Korea has been pouring money into research and development projects over the past years in an effort to provide tailwinds for Asia's fourth-largest economy.

R&D spending has grown at an annual average rate of 12 percent over the last decade, with the amount reaching 59.3 trillion won (US$54.4 billion) in 2013, making it the sixth-largest in the world.

It was equal to 4.15 percent of South Korea's gross domestic product, the highest percentage in the world.