The Institute for Basic Science (IBS; Hangul: 기초과학연구원) is a Korean government-funded research institute that conducts basic science research and relevant pure basic research. IBS was established in November 2011 by the Lee Myung-bak administration as a research institute, later be a core of the International Science and Business Belt (ISBB) upon relocation in winter 2017. Comprising 28 research centers across the nation and a headquarters in Daejeon, IBS has approximately 551 permanent employees, including 435 scientists and close to 710 graduate or doctoral course students.
In 2014, the Korean government announced an investment of more than 2 trillion KRW (roughly 2 billion USD) to build a heavy ion accelerator facility in northern Daejeon by 2021. A heavy ion accelerator is a device that provides rare isotope beams. The facility, if completed on time, is expected to be the world's first device using both the isotope separator on line (ISOL) and in-flight methods.