SEOUL -- The Korean government plans to inject 15 billion won (USD12.4 million) into three key nanotech research projects as part of its efforts to stimulate eco-friendly growth, officials said on Tuesday.
The five-year plan calls for funds to be allocated to "green" energy recycling, airborne virus capturing and technology needed to make cheaper and more efficient solar cells, the Ministry of Education, Science and Technology said.
"Work will begin starting in September with businesses, universities and private laboratories all permitted to request support," an official said. He said more projects will be tapped for government research and development (R&D) assistance in the coming months.
The official added that the technologies are groundbreaking, and South Korea aims to acquire original know-how by August 2015.
The ministry in charge of the country's R&D policies said by utilizing the latest "nanowire thermoelectric modules," excess energy released from machines such as cars and refrigerators will be recycled into reusable fuel, while the bacteria capturing technology can alleviate various respiratory problems.
Going deeper into what are reported and tabled as a discussion points for ethics in applications of nanotechnology, the Korean government's move to research airborne virus capture also has security applications.
The plan to develop advanced solar cells using nanowire devices could help reduce overall costs by up to 40 percent while raising efficiency by around 10 percent.
The projects are part of the so-called NT-743 Initiative announced by the Seoul city government last year that targets reducing the country's energy use and stemming global warming.
Prior to being scaled back, the initiative called for supporting 35 projects in seven technology fields in an effort to transform South Korea into one of the top three leaders in this field. At present, South Korea ranks fourth after the United States, Japan and the European Union.
SOURCE: Yonhap, additional research by Korea IT Times
