Confirmed an increase of 294.9 billion won over the previous year
The government’s total R&D budget exceeded 30 trillion won for the first time
Logo of the Ministry of Science and ICT
The budget and fund management plan of the Ministry of Science and ICT for 2023 has been finalized to a total of 18,868.6 billion won, an increase of 1.59% (294.9 billion won) compared to the previous year. Intensive support will be provided for future technologies such as semiconductors and projectiles, as well as support for basic research and talent training.
In addition, the government’s total research and development (R&D) budget in 2023 amounted to 30.7 trillion won, an increase of 3.0 percent (about 900 billion won) over the previous year, exceeding the 30 trillion won for the first time in history.
On the 24th, the Ministry of Science and ICT announced the 2023 budget and fund management plan and the government’s total budget for research and development.
The Ministry of Science and ICT will invest KRW 18,868.6 billion in budgets and funds to be invested in 2023 in four key investment areas: “caring about future innovative technologies”, “nourishing talents and supporting basic research”, ” digital innovation at scale”, and ‘technology that makes everyone happy’ will be broadly divided into the field of ‘dissemination achievement’.
About 2.2 trillion won will be invested in innovative technologies of concern for the future, an increase of 14.2% from the previous year. The improvement of the old public semiconductor research facilities and the establishment of low-power, high-capacity data centers using domestic AI semiconductors are promoted. It will also focus on the development of next-generation small module reactors (SMRs), quantum technology, advanced biotechnology and next-generation launch vehicles.
About 7.8 trillion won will be invested in talent development and supporting basic research, up 6.6% from a year earlier, and 1.9 trillion won, up 10.4% from to the previous year, in digital innovation, such as the automation of public work processes. It plans to invest about 6.7 trillion won, up 10.5% from the previous year, in the field of spreading technology that makes everyone happy, including expanding the ‘digital learning center’ and strengthening the accessibility of information for the less privileged.
Total government budget for research and development (R&D) by year
Source: Ministry of Science and ICT
Meanwhile, the government’s total R&D budget in 2023 was calculated at about 30.7 trillion won, an increase of 3.0 percent (about 900 billion won) from 2022, exceeding by the first time the 30 trillion won. The government’s R&D budget for 2023 focuses on space technology, semiconductors, artificial intelligence, next-generation nuclear power plants, clean energy and resource circulation.
Science and ICT Minister Lee Jong-ho said, “The 2023 budget will be used to lay the foundation for the realization of state affairs and to secure national strategic technologies that can gain an edge in global technology competition.” solve social problems We will do our best to contribute to the development of technology”.
