Presidential Office: "Last Year's Budget Cuts Were Adjustments for Review Purposes"
President Yoon Suk-yeol stated on the 15th, "When preparing next year’s budget, I promise as president to significantly increase the research and development (R&D) budget so that advanced industries that enrich people’s livelihoods can be established." Although budget cuts were inevitable during the review and readjustment process of the R&D budget method, the intention is to reflect this and make a substantial increase in the next budget proposal.
In his closing remarks at a livelihood discussion held at the Semiconductor Hall of Sungkyunkwan University in Suwon, Gyeonggi Province, on the morning of the same day, President Yoon said, "When the budget was made last year, some people were worried because the R&D budget for this year was slightly reduced, but please do not worry." He especially emphasized, "I have done a lot of research on where to invest money so that you can freely take on challenges and create opportunities."
This year’s national research and development (R&D) budget was finalized at 26.5 trillion won, a reduction of 4.6 trillion won compared to the previous year. Because of this, the research community has raised concerns about the possibility of scientific and technological research being halted due to budget cuts.
Regarding the criticism that although President Yoon promised to significantly increase the R&D budget from next year, this year’s R&D expenses were actually reduced, a presidential office official explained, "There had been a customary, distributive approach," and added, "Adjustments were made in order to review and focus investments efficiently on areas that require emphasis." The official further explained, "When preparing this year’s budget, it was understood that the president said he would increase the budget and ensure investments are made where absolutely necessary."
Meanwhile, the presidential office explained that the discussion was a major example of breaking down departmental silos. Minister of Science and ICT Lee Jong-ho and Minister of Trade, Industry and Energy Ahn Deok-geun jointly announced a plan for the semiconductor mega cluster in southern Gyeonggi at the discussion.
Kim Soo-kyung, spokesperson for the presidential office, said at a briefing held at the Yongsan Presidential Office in the afternoon, "Before the event, the two ministers met several times to frequently discuss cooperation between the two ministries for fostering the semiconductor industry," adding, "Since semiconductors are important not only for R&D but also for commercialization, they agreed that the two ministries must join forces and decided to unite their efforts first. It is said that they rehearsed together several times before the event to coordinate well."
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