S. Korea Allocates Record High $25 Billion For Research And Development In 2026

(MENAFN- IANS) Seoul, Aug 22 (IANS) The government here on Friday unveiled a plan to allocate a record-breaking 35.3 trillion won ($25.1 billion) for research and development (R&D) projects in 2026 in a move to enhance productivity and develop new growth engines.

The decision was reached at a meeting of the Presidential Advisory Council on Science and Technology chaired by President Lee Jae Myung, with details set to be submitted to the National Assembly in the near future.

The amount, the highest of its kind, marks a 19.3 percent spike from this year's 29.6 trillion-won R&D budget, according to the Ministry of Science and ICT, reports Yonhap news agency.

Of the total, 2.3 trillion won will be spent on pursing "transformation of the economy and society through artificial intelligence (AI) technology," which is more than double from 2025.

"In order to promptly gain the upper hand in the global competition in the AI industry, we will avoid sporadic development of technologies and focus on enhancing homegrown capabilities throughout the AI ecosystem," the ministry said.

The government aims to apply AI across various industries and expand adoption in the public sector, including administration, health care and defence.

The government will also spend 2.6 trillion won on the development of renewable energy technologies, up 19.1 per cent from that of this year.

In detail, the government will seek to speed up the transformation of the energy sector led by renewable sources, such as solar and wind power, supporting the development of related homegrown technologies.

A total of 8.5 trillion won will be earmarked for fostering cutting-edge industries, marking a 29.9 per cent increase from 2025.

The government said it will focus on securing core technologies in areas with great potential, such as quantum computing and synthetic biology.

South Korea will also make efforts to make early progress in areas with strong public demand, including self-driving and robotics technologies.

The budget for defence-related R&D projects will rise 25.3 percent on-year to 3.9 trillion won to support efforts to secure omnidirectional deterrence capabilities in all domains, including space and cyber.

The government will promote research in basic science by spending 3.4 trillion won, up 14.6 percent from this year, offering scholars a more liberal, sustainable and stable research environment.

An additional 1.3 trillion won will be allocated to attract competitive experts from overseas, along with 4 trillion won to enhance the capabilities of state-funded research institutes, the ministry added.

-IANS

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