Technology Grant

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A scientist who has received over 8 million dollars for a technology grant has made headlines recently. His feat is the result of applying basic science to product development.

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The aggregate value of Korea's first-ever company operating as a research center surpassed one billion U.S. dollars. It produces immune support products and cosmetics. The secret to the company's success lies in a technology for refining green tea extract using radiation. It was obtained from the Atomic Energy Research Institute.

[Soundbite] Baek In-young(CEO, Kolmar BNH) : "This is a result of collaboration between the technological prowess of national policy institutions and the business skills of a private firm."

The Atomic Energy Research Institute sold part of its shares to reap profits of around 14 million dollars, and used them to reward scientists for their contributions. Each scientist received as little as 53,000 dollars to as much as 3.6 million dollars. When all of the shares are sold, one of the scientists will receive over 8 million dollars. The lucky scientist is Dr. Cho Sung-ki, who has dedicated three decades studying basic science. Cho majored in biology in college and studied immunology at the Korea Cancer Center Hospital.

[Soundbite] Cho Sung-ki(Researcher, Atomic Energy Research Inst.) : "This can be achieved easily when society creates the right conditions for scientists to dedicate their utmost effort to studying core technologies."

This example demonstrates that scientists can also receive large rewards for their work. It's expected to spread hope among aspiring scientists who have yet to choose their career path.