Korea: Korea’s 2018 R&D budget grew 1.1%, totaling $19.66 billion. With the federal government’s budget at $428.8 billion, the raise in R&D funding is minimal at best, and is mostly due to a general slowing of economic growth, youth unemployment and increased welfare demand. The largest portion of the 2018 R&D budget is allocated to the Ministry of Science and ICT, which received $6.73 billion, or 34% of the entire budget. The Ministry of Trade, Industry and Energy was allocated $3.16 billion, or 16%, while the Defense Acquisition Program Administration received $2.9 billion, or 15%. Approximately 9% of the R&D budget, or $1.74 billion, was given to the Ministry of Education, and the Ministry of SMEs and Startups received $1.91 billion, representing 6% of the total budget. These five ministries were allocated approximately 80% of the entire budget, and the remaining capital was received by the Rural Development Administration, Ministry of Oceans and Fisheries and other departments.

Out of the nine scientific fields (biotechnology; information and electronics; space, aviation and oceans; energy and resources; machine, manufacturing and production; basic science; materials and nanotechnology; construction, transportation and safety; environment; and others), biotechnology R&D received the greatest amount at $2.86 billion. Information and electronics followed with $2.60 billion, and energy and resources was allocated $1.60 billion. Basic science received $1.31 billion, while materials and nanotechnology was allocated $1.01 billion.

In 2018, the government intends to spend $1.52 billion of its R&D budget on advances in technology development, focusing on five investment categories: basic science, including brain science and industrial mathematics; core technologies, including AI, big data and IoT; communications such as mobile communications and semiconductors; convergence technologies like self-driving vehicles and drones; and laws and policies for fields such as AI ethics and data IP.

Source: Korea Institute of Science & Technology Evaluation and Planning