'Science and Technology Are Survival'... Yoon Focuses on Developing National Strategic Technologies

Attending the New Year's Meeting of Science, Technology, and ICT Professionals for the First Time in 7 Years as President
"Government Will Support Challenges and Innovation"

R&D Budget Increased by 10% Despite Fiscal Tightening
Emphasizes 'Importance of Science and Technology' in Official Schedules and Speeches
Exchanged Views with Quantum Technology Experts in Switzerland

[Asia Economy Reporter Ki-min Lee] President Yoon Suk-yeol has been urging continuous efforts to develop advanced science and technology. As national strategic technologies such as semiconductors, artificial intelligence (AI), and aerospace rapidly emerge as new economic and security capabilities, it is interpreted that he is personally overseeing these efforts as much as the three major reforms in labor, education, and pensions.

According to the Presidential Office on the 11th, President Yoon attended the New Year's gathering of scientists and information and broadcasting communication professionals for the first time in seven years as president the day before and stated, "The government will firmly support continuous challenges and innovations."

Since science and technology are directly linked not only to the nation's future but also to our survival, the government intends to actively invest in research and development (R&D).

The Yoon Suk-yeol administration, while emphasizing fiscal austerity to defend against the economic crisis caused by the three highs?high inflation, high exchange rates, and high interest rates?has increased the R&D budget for 12 national strategic technologies, including semiconductors and nuclear power, by more than 10% compared to last year.

Additionally, governance will be strengthened through institutions such as the Korea Aerospace Agency, Korea's version of NASA, to focus on nurturing scientific and technological competitiveness. In the digital sector, plans include promoting the localization of AI semiconductors and cloud technology and bridging the digital divide.

President Yoon has emphasized the importance of advanced science and technology R&D in official schedules and remarks from late last year to recently, highlighting its strategic significance. On December 22, 2022, he separately met with future scientists composed of 2022 Presidential Science Scholars and International Science Olympiad awardees, promising that "the government will be a strong supporter for future scientists."

[Image source=Yonhap News]

Moreover, in his New Year's address on the 1st, he stressed, "Despite difficult fiscal conditions, government R&D investment has entered the era of 30 trillion won for the first time," and added, "New future strategic technologies will further strengthen the competitiveness of our industries."

At the first Cabinet meeting of the year on the 3rd, President Yoon ordered cabinet members, saying, "We must support the growth of advanced technologies and industries to compete in the global market," and "All government ministries must pool their capabilities for tax and financial support, R&D assistance, and market development."

In particular, during his visit to Switzerland for the World Economic Forum (WEF, Davos Forum) on the 20th, President Yoon included science and technology-related schedules, such as meeting with scholars from ETH Zurich, one of Europe's top three physics research institutions, to exchange views on quantum technology.

Chief Secretary for Economic Affairs Choi Sang-mok stated, "Quantum technology, which can dramatically increase computational speed compared to supercomputers, is a game changer bringing innovation to all industries and security, accelerating competition among the United States, the European Union (EU), Japan, and China to secure it," and added, "We will exchange opinions on the success factors that made Switzerland a quantum technology powerhouse and the strategies our country, as a latecomer, should adopt, as well as establish human networks between scientists of both countries."