Seoul: The government plans to allocate 30 trillion won (US$20.8 billion) for research and development (R and D) projects in its budget for next year, acting President Choi Sang-mok announced Tuesday.
According to Yonhap News Agency, Choi emphasized the swift and effective execution of this year's R and D budget, which stands at 29.6 trillion won. During a meeting with scientists for the new year, he highlighted that next year's plan will focus on innovative R and D initiatives, proposing a budget of around 30 trillion won.
This year's R and D budget represents a nearly 12 percent increase compared to the previous year, when spending on R and D faced significant cuts. For 2025, the government has earmarked 7.1 trillion won for advanced technologies, allocating 1.2 trillion won specifically for developing a next-generation artificial intelligence ecosystem and artificial general intelligence.
Choi stated that the government will boldly expand investments in critical fields, identifying artificial intelligence, biotechnology, and quantum technology as the three major game changers.