Korea to invest heavily in R&D, AI, digital transformation

By Baek Byung-yeul

The government will actively recruit overseas researchers specialized in quantum computing, AI and bio this year to make the country a global R&D hub. Additionally, it will focus on driving economic growth and job creation based on AI technology and enhancing digital inclusion through advanced digital services, the ICT minister said Tuesday.

“This year, as the Yoon Suk Yeol administration enters its third year, the government will take more immediate action for Korea’s future,” Minister of Science and ICT Lee Jong-ho said during a briefing at the Government Complex in Seoul.

“We will create an R&D hub where the world’s top researchers can perform innovative research together, and thoroughly prepare for a major transition to AI and digital, so that Korea can leap forward as a powerhouse in science and technology and be a model digital nation.”

The Ministry of Science and ICT announced its major projects to be promoted this year, setting strategies under the goal of making Korea a powerhouse in science and technology and a leading country in digital technology.

The ministry said that it will expand joint research with advanced countries and actively recruit overseas experts to strengthen cooperation to make Korea the world’s best R&D hub.

The government will invest 1.8 trillion won ($1.35 billion) this year, up from 0.5 trillion won in 2023, to significantly expand joint research with the world’s top research institutions centered on basic and national strategic technologies, and will improve systems to make it easier for overseas researchers to settle in Korea.

Amid fierce competition among advanced nations for technological hegemony, Korea also plans to focus on R&D for technologies that possess a huge potential to disrupt many sectors such as quantum computing, AI, bio, semiconductor packaging, network and space, so as not to fall behind.

In the field of AI, 58 billion won will be invested in developing technology to overcome the problem of generative AI giving false answers or providing biased opinions, and 9 billion won will be invested to establish AI research hubs in Korea and the U.S. to collaborate with overseas researchers.

For advanced bio, global cooperation will be expanded, such as supporting joint research projects in the U.S. city of Boston, which has the world’s top biocluster. In addition, the Korea Aerospace Administration will be operational as of this May to establish better governance of the country’s space industry. Also, private companies that are going to receive the transfer of launch vehicle technology will be selected in March.

The ICT ministry predicted that AI technology will help Korea to leap forward in terms of its economy and industries, and will lead global norms based on this.

Under the plan, the ministry plans to attain global leadership in AI technology and support productivity innovation through regulatory innovation across the economy and industries, and create new markets.

In addition, it will work to become the leader in the on-device AI market, which is still in its early stages. On-device refers to technology that runs AI services without requiring a network connection.

The ministry plans to invest 773.7 billion won to enable AI to be widely used in everyday life such as education, medical care and law, and provide comprehensive support for data, regulatory innovation, cultivating professionals and financial and tax support so that AI services can quickly spread.

To lead the global norm discussions in the AI and digital sectors, Korea, jointly with the U.K., plans to solidify its status as a model nation in the digital field by hosting the AI Safety Summit in May, the ministry added.