The Ministry of Science and ICT has been found to have misused the R&D budget to nurture financial experts, instead of spending it for the development of bio and medical technology.

The National Assembly Budget Office said Monday that the budget, which should have been spent on the R&D of technology development, was spent to nurture experts in biotechnology investments, after analyzing the fiscal year of 2016 through the Science, ICT, Broadcasting Communications Committee.

The R&D project for biotechnology development is aimed at securing original technologies for new drugs, stem cells, and high-tech medical devices. The ministry fully spent the budget of 194.99 billion won in 2016.

The project had nine expenditure areas. Through a budget revision in 2016, the ministry added 300 million won budget for biotech policy support at the Korea Research Institute of Bioscience and Biotechnology and another 700 million won for nurturing experts in biotechnology investments. The 700 million won was spent for selecting projects and preparation work for training programs in 2016. The actual training has been running since February this year.

The National Assembly Budget Office pointed out that it could not regard the 700 million won expenditure on such training programs as an R&D project for biotechnology.

The ministry has been providing education for those interested in biotech investments including venture capitalists, companies, and entrepreneur aspirants. They learn the characteristics of the biotech industry and practical skills for investments.

“The budget was not properly executed for developing original technologies but for nurturing financial experts, which were not related to the policy goals,” the National Assembly Budget Office said. “We will readjust budgets in the future so that we can avoid spending on those inappropriate for project goals.”

The office also pointed out that that the project was carried out through a surplus budget that came out after restructuring of related projects, even before the National Assembly finalized the ministry’s budget.

The office said nurturing biotech investment experts was not included in the National Assembly’s assessment for the budget planning.

“Given the fact that the existing project had no educational content for non-R&D area, it is reasonable to assume that this project was created as a new project,” it said.

“In this regard, it is inappropriate for the ministry to go ahead with the nurturing program, which is irrelevant to the biotech R&D project, reviewed and finalized by the National Assembly.”

The office advised the ministry not to execute the budget on a new project without a parliamentary approval.

kss@docdocdoc.co.kr

<© Korea Biomedical Review, All rights reserved.>