South Korea's Ministry of Science and ICT said on May 11 it has completed work to overhaul a "full-cycle review system" and will begin full-scale operation after the abolition of preliminary feasibility studies for research and development (R&D).

The ministry said a revision to the Science and Technology Framework Act in February established a basis for implementing a tailored pre-check system by R&D type after the abolition of R&D preliminary feasibility studies. It said it immediately introduced follow-up measures for research-type R&D. For infrastructure-type R&D, it said it completed preparations in line with the schedule for promulgating the enforcement decree.

The newly introduced review system for infrastructure-type projects shifts away from pre-verification that mainly assessed economic viability to a framework that manages the entire project cycle in stages from planning to completion. It applies to large projects with total costs of 100 billion won or more, including at least 50 billion won in state funds. Review items are applied selectively depending on how a project is pursued and its details, enabling tailored reviews.

It said the system establishes technical and financial risk management across the entire project cycle, from a "project implementation review" that checks feasibility of 추진 to a "design adequacy review" that examines design completeness and technical risks, and a "major plan change review" that reflects changes in conditions.

The ministry said it also set up a detailed operating structure. It formed an "infrastructure-type R&D project review committee" as the deliberation and decision-making body for the system. The chair is the head of the Office of Science and Technology Innovation, and private-sector members are made up of top domestic experts related to infrastructure-type R&D. It also secured about 240 experts from fields including academia and industry. The ministry said it will conduct full-cycle reviews through a specialist review panel made up of experts.

The ministry said it will begin full-scale operation of the system starting with accepting requests to review new large infrastructure-type R&D projects from each ministry.

Park In-kyu (박인규), head of the Office of Science and Technology Innovation, said, "Based on the prepared institutional foundation, we will provide research infrastructure demanded in the field in a timely manner." He added, "We will make every effort in operating the system so that a foundation can be established to leap forward as a leading science and technology country."