President Lee Jae Myung Announces Ambitious R&D Investment
South Korea will increase government research and development (R&D) spending by nearly 20% in 2026 to a historic 35.3 trillion won ($25.23 billion), President Lee Jae Myung announced on Friday. This funding surge is a cornerstone of the country's plan to accelerate innovation in emerging fields, with a particular emphasis on artificial intelligence (AI) technologies[1][3].
Renewed Commitment to Science and Innovation
President Lee highlighted that this new investment reverses previous budget cuts and represents a strategic pivot for South Korea’s place in the global technology race. In a televised address, he stated, "With the shift towards fierce competition for dominance in advanced science and technology, international competition is intense. Especially in the field of AI, the next 2 to 3 years are a golden time. If you stay half a step ahead during this period, you will become a leader enjoying infinite opportunities, but if you fall behind, you will remain an eternal follower"[2].
- 2026 R&D budget: 35.3 trillion won ($25.23 billion)
- Increase over previous budget: 19.3% (up 8.8 trillion won in two years)
- Focus areas: AI and advanced technology development
Reversing the Previous Administration’s Cuts
Under the previous government led by former President Yoon Suk Yeol, the R&D budget was reduced to 26.5 trillion won. Lee criticized these cuts for pushing young researchers and students to seek opportunities abroad, warning that the decline was a threat to the national competitiveness in science and technology and damaged the basic research ecosystem[2].
Long-Term Vision for National Competitiveness
President Lee framed the increased spending as a pivotal move to reclaim South Korea’s edge in global science and technology. He reminded the public of the nation's transformation since 1945, attributing the success to investing in the future. According to Lee, the new R&D budget is the starting point for turning the country into a “new scientific nation” and ensures South Korea will not miss out on the crucial advancements expected in the coming years[1][2].
($1 = 1,399.2900 won)