South Korea’s science ministry announced an investment of 8.12 trillion won ($5.6 billion) this year for research and development in science and information and communications technology. The budget, increased by 25.4% from the previous year, includes 6.44 trillion won for science and technology and 1.68 trillion won for ICT. This investment aims to drive innovation-led growth amidst global economic uncertainties and propel South Korea towards becoming a leading force in artificial intelligence.
The government plans to boost spending in future technologies like biotechnology and quantum science within the science and technology sector. Additionally, there will be a focus on enhancing core technologies to maintain a competitive advantage in key industries such as semiconductors and secondary batteries. In the ICT sector, there will be an expansion of investments in AI-driven initiatives, including the development of AI transformation engines and the training of highly skilled AI professionals.
Science Minister Bae Kyung-hoon criticized U.S. e-commerce giant Coupang Inc. for allegedly not cooperating fully with the government in an ongoing investigation regarding a significant data breach. Coupang had initially reported over 33.7 million affected user accounts but later claimed that only 3,000 accounts were impacted. The government rejected Coupang’s assertions, labeling them as a premature conclusion of an ongoing inquiry. Minister Bae emphasized the seriousness of the situation, highlighting that Coupang’s statements were based on the suspect’s testimony.
