Billions & Trillions

South Korea have thrown down the gauntlet, and stated their aim to be one of the “top three nations in the global nanotechnology market by 2015.”

A ministry official states that “South Korean firms are seeking to claim at least 16 percent of the global nanotechnology market, which is expected to expand up to US$1 trillion won by 2015” – we presume the number is US dollars rather than Korean Won, of which there are currently 1230 to the dollar.

There are of course, lies, damn lies and these types of announcements which are rarely what they seem. A typical examples is the scary announcement from Samsung that it will spend $47 billion on R&D between now and 2010. Fabtech takes the numbers apart, and concludes that it is probably not such a frightening number after all.

A similar situation exists with many nanotech related announcements, where the headline numbers tell rather less than the full story, with significant chunks of money already committed being redeployed or renamed.

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