SEOUL — The South Korean government announced plans on Wednesday to propose the largest budget in its history for research and development (RandD) for the upcoming year. Park Sang-ook, the senior presidential secretary for science and technology, emphasized the need for an overhaul in the support mechanism for RandD projects in light of the rapid technological advancements and global competition for technological dominance.
According to Yonhap News Agency, there is a unanimous agreement among the president and economy-related ministries on the importance of significantly increasing next year's RandD budget to make it the largest to date. The government intends to conduct a comprehensive survey across ministries involved in RandD to assess their needs, with the final budget size expected to be determined after several months of deliberations.