Seoul, Aug 22
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 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.