The government earmarked 29.7 trillion won (US$22.3 billion) in the budget for research and development (R and D) projects in 2025, officials said Tuesday.

Next year’s R and D budget marks a 11.8 percent increase from this year, when it was significantly slashed. Compared with 2023, the budget rose 1.3 percent, according to the science ministry.

In 2025, the country plans to invest 7.1 trillion won in advanced technologies, including 1.2 trillion won in developing a next-generation artificial intelligence (AI) ecosystem and artificial general intelligence.

The government also set aside 60 billion won as support funds for graduate students at science and engineering colleges and 2.9 trillion won for basic science research.

Another 2.2 trillion won has been allocated for global R and D projects and 1 trillion won for innovative research projects.

Source: Yonhap News Agency