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Home > News > Auditors slam misuse of state research funds

May 10th, 2010

Auditors slam misuse of state research funds

Abstract:
State auditors said Monday that they had found mishandling of government funds in technology research, and questioned the fairness in the selection of projects and researchers as well as the provision of funding.

According to the Board of Audit and Inspection (BAI), the Korea Evaluation Institute of Industrial Technology (KEIT) provided funds for irrelevant expenditures and expenses claimed for certain projects.

It said the KEIT overlooked or failed to notice that 16 research organizations sought duplicate reimbursements for expenses of 656 million won ($581,000) that had already been approved for similar projects.

Auditors also found that a professor, who won a state-fund for a nanotechnology research, spent 28 million of the budget for personal use.

Source:
koreatimes.co.kr

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