Yoo Sang-im "Regret over Budget Cut for Next-Generation Small Modular Reactors... Will Explain to the National Assembly"

President Yoon's statement on 'National Assembly cutting budget stifles growth momentum' claims
Expresses regret over slight cuts after restoring this year's sharply reduced R&D budget
Indicates efforts to secure additional budget

Yoo Sang-im, Minister of Science and ICT, commented on President Yoon Seok-yeol's claim in his national address on the 12th that "the National Assembly is trying to extinguish future growth engines by cutting budgets for basic science research, quantum technology, semiconductors, bio, and other areas." Yoo said, "It is regrettable that the Sodium-cooled Fast Reactor (SFR) project budget was reduced from 7 billion won to 700 million won."

Yoo Sang-im, Minister of Science and ICT (center), is saluting the national flag at the '2024 Excellent Scientist Awards Integrated Ceremony' held on the 12th at the Science and Technology Hall in Gangnam-gu, Seoul. Photo by Ministry of Science and ICT

On the afternoon of the 12th, Minister Yoo met with reporters after the '2024 Excellent Scientist Awards Integrated Ceremony' held at the Science and Technology Center in Gangnam-gu, Seoul, and responded to questions regarding President Yoon's morning address, in which he pointed to the opposition party's tyranny as the reason for budget cuts in the science and technology sector.

President Yoon's remarks are interpreted as referring to the National Assembly's confirmation of the 2025 government-wide R&D budget of approximately 29.6 trillion won, which was cut by about 81.5 billion won (0.3%) compared to the government's proposed budget of 29.7 trillion won. Although the government proposal represented an 11.8% increase compared to this year's budget, it was reduced solely by the opposition party following the martial law situation.

When asked whether the budget situation was serious, Minister Yoo said, "Even the 29.7 trillion won is considered insufficient by the science and technology community, so it is regrettable that it was cut." He also added, "The next-generation nuclear SFR project budget was reduced from 7 billion won to 700 million won. It is very important, so it is very regrettable." Minister Yoo did not comment on other areas with larger budget cuts.

As a scholar himself, Minister Yoo's stance is interpreted as expressing regret over the slight budget cut after the R&D budget, which was 29.3 trillion won in 2023, was significantly reduced to 26.5 trillion won this year but then expanded again to a record high of 29.7 trillion won. Other officials from the Ministry of Science and ICT also appeared unsettled by President Yoon's sudden remarks that day.

Minister Yoo also stated that he would explain the reduced budget to the National Assembly and make efforts to secure additional funds. Since the opposition party has hinted at the possibility of drafting a supplementary budget in the future, he plans to actively pursue this effort.