According to Yonhap News,

South Korea plans to spend 830 billion won (US$561.2 million) on research and development (R&D) of industrial technologies next year as part of efforts to bolster the country's competitiveness in advanced industries amid escalating global competition, the industry ministry said Thursday.

The Ministry of Trade, Industry and Energy will review its investment plan with experts to better support R&D projects in artificial intelligence (AI), quantum computing, mobility, semiconductors and other cutting-edge technologies, according to ministry officials.

Since last year, the government has devised 124 R&D projects for the advanced industries, which will receive a combined investment of 6.7 trillion won.

"In the face of uncertain domestic and global conditions, the key breakthrough lies in technology and innovation," said Oh Seung-cheol, deputy minister of industries and enterprises at the ministry.



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Source: Yonhap News (April 10, 2024)