Ministry of Science and ICT Expands Support for 'Global R&D’

2024-06-27

The Ministry of Science and ICT (MSIT) in South Korea has announced the major policy implementation plan for this year aiming to become a 'global science and technology powerhouse and leap to a digital role model country'. The four major strategies for achieving this goal: (1) Establishing South Korea as the world's top R&D hub, (2) Driving innovation through challenging R&D, (3) Leading AI and digital transformation, and (4) Promoting warm AI and digital technologies with the public.

The Ministry of Science and ICT stated that the government investment in global R&D will expand from 500 billion KRW last year to 1.8 trillion KRW this year. Additionally, to attract foreign talent, comprehensive support services covering the entire settlement process (entry, living, and citizenship acquisition) will be provided. Furthermore, to elevate S. Korea as a technological powerhouse, the Ministry is focusing on achieving breakthroughs in three key areas: 'quantum,' 'AI,' and 'advanced biotechnology.'

The Ministry also announced the focused development of three globally leading technologies: next-generation semiconductors (AI semiconductors, compound semiconductors, advanced packaging), next-generation networks, and space. Particularly in the space sector, the government plans to establish a space industry cluster centered around Daejeon, Jeonnam, and Gyeongnam, in conjunction with the launch of the Korea AeroSpace Administration this year

Source: https://www.hellodd.com/news/articleView.html?idxno=103377