The preliminary budget for research and development (R&D) for next year has been set at 26.1 trillion won.
The Presidential Advisory Council on Science & Technology held its first deliberative meeting at 2 p.m. on the 30th, chaired by Vice Chair Choi Yang-hee, to discuss the preliminary budget allocation and adjustments for national research and development projects for 2026.
The preliminary budget for the 'major R&D' that the Advisory Council deliberates on in the 2026 R&D budget is set at 26.1 trillion won, which represents a 5.1% increase from the previous year. The Ministry of Economy and Finance will prepare the general R&D budget.
The advisory council's deliberative meeting is the highest decision-making body in the field of science and technology. It deliberates on long-term policies and technology acquisition strategies in the science and technology sector, as well as improvements to the national research and development system and budget allocations.
Typically, the government’s R&D budget formulation process involves the Ministry of Science and ICT’s Science and Technology Innovation Headquarters preparing the R&D budget allocation and adjustment proposals in consultation with private experts (specialized committees for each technology sector), which are then finalized following deliberation and approval by the Presidential Advisory Council on Science & Technology, with the results submitted to the Ministry of Economy and Finance by the end of June.
However, the allocation and adjustment plan for next year’s R&D budget is expected to provide a preliminary plan by the statutory deadline of the end of June, considering that the national agenda of the newly launched Lee Jae-myung administration has not yet been established, with a final plan to be developed once the national agenda is set, which will then be confirmed following deliberation and approval by the Presidential Advisory Council on Science & Technology.
Once the national agenda is confirmed by the Presidential Committee on Policy Planning, the Science and Technology Innovation Headquarters will cooperate with the Ministry of Economy and Finance to prepare a final plan that faithfully reflects the national agenda, with the final plan scheduled to be definitively confirmed after deliberation and approval by the Presidential Advisory Council on Science & Technology in August.