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`The building of the Korea Institute of Science and Technology is expected to be completed on October 23. In May, 1965, when President Park visited to the U.S., he and President Johnson agreed that Korea needs above anything else a scientific and technological research center to stimulate the economic development in Korea and as a result of this, the Korea Institute of Science and Technology was established in February, 1966 as an incorporated foundation with the help of the U.S. Government. The primary purposes of the Institute are to undertake major industrial research and development activities, to conduct feasibility studies for major industrial projects, to learn and apply new techniques and to disseminate promptly and correctly technical information to the industries. The Institute is being constructed over a sprawling of 79,142 pyong, on formerly a site of forestry experimental farm, at Hongnung, Seoul and this Institute is expected to play a vital role as a technological research center. The Institute is staffed with many competent scientists who are well-known both at home and abroad and it already finished fact-finding survey over the sixteen specific industrial fields as its first project. When the building completed equipped with various research facilities, the Institute will give a bright outlook for the future of scientific and technological development in this country. The Ministry of Communications issues a commemorative stamp hoping that the Institute make great contributions to attaining the economic self-sufficiency and to building affluent society in this country.`