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 world’s first device using both the Isotope Separator On Line (ISOL) and In-Flight (IF) methods.