The Institute for Basic Science is a Korean government-funded research institute that conducts basic science research and relevant pure basic research (basic research). IBS was established in November 2011 as a research institute within the International Science and Business Belt (ISBB) by the Lee Myung-bak administration. It is located in Daejeon, Korea. Comprising 26 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 to build a heavy ion accelerator facility in 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 worlds first device using both the Isotope Separator On Line (ISOL) and In-Flight (IF) methods. IBS consists primarily of a headquarters (HQ) and secondary units in the form of research centers. IBS plans to establish a total of 50 research centers by 2021, employing 3,000 people. IBS research centers are divided into three categories: HQ, Campus and Extramural. HQ Centersâ research groups are affiliated solely with IBS. Campus Centers are based in the nationâs science and technology universities (KAIST, DGIST, UNIST, GIST and POSTECH) Extramural Centers are based in universities other than science and technology universities. As of April 2016 there are 26 centers operating in various fields of science including 6 in chemistry, 8 in life science, 3 in interdisciplinary science, 8 in physics and 1 in mathematics. The centers are located at IBS HQ in Daejeon and relevant universities in Seoul, Suwon, Daegu, Ulsan, Pohang and Gwangju. There are two affiliated organizations: the National Institute for Mathematical Sciences (NIMS), and the Rare Isotope Science Project (RISP). The annual budget for each center ranges from 2 to 10 million USD. Once launched, centers run with no fixed time frame to conclude their research.