This paper presents the economic validity with the cost/benefit analysis on establishing R&D Supreme Academy. To evaluate the profitability of R&D Supreme Academy, willingness to pay (WTP) is measured by contingent valuation method (CVM) and then the net present value (NPV), internal rate of return (IRR) and benefit/cost ratio(BCR) are calculated. The results of economic evaluation verified that the establishment of R&D Supreme Academy is timely and effective in an economic perspective.

This study develops reeducation programs to satisfy needs conducted by the analyses of potential customers and present R&D education programs. The results of this study were derived using the data collected from 200 R&D researchers and control managers occupied in research centers. By analyses of the survey, results showed that the professional R&D reeducation institution and specialized education programs according to career and position were needed. To bring solution of the researcher's reeducation, the establishment of R&D Supreme Academy is essential for effective human resource development and management in R&D.