Korea to allocate $20.8 billion to R&D in next budget
Published: 21 Jan. 2025, 18:21
![Acting President Choi Sang-mok [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/01/21/f6957c56-d2ea-421d-9304-8681accd10c7.jpg)
Acting President Choi Sang-mok [YONHAP]
“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
with the Korea JoongAng Daily
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