Introduction of a Large-Scale Built-in Science and Technology R&D Project Review System
Legislative Notice for Amendment to the Framework Act on Science and Technology Including Follow-up Measures After the Abolition of Preliminary Feasibility Study
The Ministry of Science and ICT announced on the 7th that it will publicly notify the "Amendment to the Framework Act on Science and Technology," which centers on the introduction of a new review system for the efficient management of large-scale research and development (R&D) projects, from the 8th until November 18.
This amendment is part of the follow-up measures after the abolition of the R&D preliminary feasibility study (PFS) announced at the National Fiscal Strategy Meeting in May. The government had decided to abolish the PFS to enhance the speed and timeliness of R&D and to shift towards leading-edge R&D.
Even after the abolition of the PFS, the amendment to the Framework Act on Science and Technology stipulates that large-scale infrastructure-type R&D projects such as large accelerators and space launch vehicles must undergo a thorough review of project feasibility and the appropriateness of implementation plans in advance, thus introducing a review system. The Ministry of Economy and Finance is also promoting amendments to the "National Finance Act."
The Ministry of Science and ICT expects that the new review system will enable differentiated evaluations according to the type and characteristics of projects, and allow flexible plan changes when necessary.
The full text of the amendment can be found on the Ministry of Science and ICT website, and opinions can be submitted through the National Participation Legislation Center until November 18. This bill will be enforced six months after the law is amended.
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Ryu Gwang-jun, Director of the Science and Technology Innovation Headquarters, stated, "Through the new system, fiscal soundness will be enhanced, and systematic full-cycle management reflecting project characteristics will become possible."
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