A Total of 69,042 Institutions Surveyed, Including Public Sector, Universities, and Companies
R&D Expenditure Reaches 131 Trillion Won, Up 10% from Previous Year
Companies Account for 81% of Spending; Large Enterprises Invest 71 Trillion Won
Last year, South Korea ranked second in the world after Israel in terms of research and development (R&D) expenditure as a percentage of gross domestic product (GDP). The total domestic R&D expenditure reached 131.0462 trillion won, marking an increase of more than 10% compared to the previous year.
The Ministry of Science and ICT announced on the 26th the results of the "2024 R&D Activity Survey," which investigated and analyzed the status of research and development activities conducted in the public and private sectors in South Korea last year.
The survey was conducted in accordance with the Organisation for Economic Co-operation and Development (OECD) guidelines (Frascati Manual) and covered a total of 69,042 institutions, including public research institutes, universities, and companies engaged in R&D activities, focusing on costs and workforce status.
Last year, domestic R&D expenditure amounted to 131.0462 trillion won, an increase of 11.9722 trillion won (10.1%) from the previous year. The ratio of R&D expenditure to GDP was 5.13%, maintaining the world’s second-highest position after Israel (6.35% in 2023).
By funding source, government and public funds accounted for 27.7672 trillion won (21.2%), while private and foreign funds reached 103.279 trillion won (78.8%), with private and foreign investment surpassing 100 trillion won for the first time. Of this, private funds made up 102.875 trillion won, and foreign funds accounted for 404 billion won.
By type of research entity, companies spent 106.6988 trillion won (81.4%), public research institutes 13.2936 trillion won (10.1%), and universities 11.0538 trillion won (8.4%).
By company size, large enterprises invested 71.4808 trillion won (67.0%), medium-sized companies 14.2834 trillion won (13.4%), small businesses 8.5813 trillion won (8.0%), and venture companies 12.3533 trillion won (11.6%) in R&D.
In terms of research type, basic research accounted for 19.269 trillion won (14.7%), applied research 25.2812 trillion won (19.3%), and development research 86.496 trillion won (66.0%), with development research showing the largest increase in expenditure compared to the previous year.
As of last year, the total number of researchers in South Korea was 615,063, an increase of 11,497 (1.9%) from the previous year. The number of R&D personnel, including research assistants, was 839,582, up by 11,620 (1.4%) year-on-year. The number of female researchers reached 148,922, accounting for 24.2% of the total, and this proportion continues to rise steadily.
Meanwhile, the results of this survey will be provided to the OECD for use as comparative data on national R&D activities. The survey report will be distributed in February next year through the websites of the Ministry of Science and ICT and the Korea Institute of Science and Technology Planning and Evaluation.
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