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Industry

Legal foundation set for region-led R&D system with regional science and technology advisory councils

South Korea has set a legal foundation to pursue more efficient regional research and development policy, including establishing regional science and technology advisory councils under provincial governors. The Ministry of Science and ICT said the National Assembly passed a bill on promoting region-led science and technology innovation. The law requires local governments to draw up five-year plans and allows administrative and financial support from the central government. It takes effect on Jan. 1 next year.

Industry

Mutual guarantee rule for private ICT construction projects; supervision management system to be introduced

South Korea has amended a law governing the information and communications construction sector to strengthen contract fairness and protect smaller firms. The revision introduces a mutual guarantee obligation for privately ordered projects and makes liability insurance or mutual aid coverage mandatory. It also establishes a basis to build and operate a supervision management system and requires new registrants to complete training within six months. The Ministry of Science and ICT said the change would support shared growth in the market.