The government announced on Monday that it would invest 513 billion won ($446 million) in the research and development of nano-technology by 2020.

The investment is part of its “Nano 2020,” project aimed at becoming one of the world’s top three nano-technology powerhouses, according to the Ministry of Education, Science and Technology.

The Ministry said the country would focus on developing core technologies including those integrated with environmental and IT technologies.

The ministry will set up a dedicated research institute with the investment. The ministry is planning to appoint a candidate to lead the research group in July after receiving applications until June 13.

By Oh Kyu-wook (596story@heraldcorp.com)