Korea to allocate $20.8 billion to R&D in next budget

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Korea to allocate $20.8 billion to R&D in next budget

Acting President Choi Sang-mok [YONHAP]

Acting President Choi Sang-mok [YONHAP]

The government plans to allocate 30 trillion won ($20.8 billion) for research and development (R&D) projects in its budget for next year, acting President Choi Sang-mok said Tuesday.
 
“The government will swiftly and effectively execute this year's R&D budget of 29.6 trillion won,” Choi said during his remarks at a meeting with scientists for the new year. He added that next year's plan will focus on innovative R&D initiatives, with a proposed budget of around 30 trillion won.
 
This year's R&D budget marks a near 12 percent increase from that of last year, when R&D spending faced significant cuts.
 
For 2025, the government has earmarked 7.1 trillion won for advanced technologies, including 1.2 trillion won dedicated to developing a next-generation AI ecosystem and artificial general intelligence.
 
“We will boldly expand investments in critical fields, including the three major game changers — AI, biotechnology and quantum technology,” Choi said.

Yonhap
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