"Government R&D to Be Redesigned Around Industrial Demand... 2027 Investment Direction Reflects Corporate Input"

Establishing Guidelines for Next Year’s Budget Allocation and Coordination
Gathering Final Opinions on Investment Strategies

The government has gathered input from the industrial sector in the process of establishing the overall framework for the national research and development (R&D) budget for 2027. This move is aimed at redesigning government R&D to better reflect on-site demand.

On February 27, the Ministry of Science and ICT announced that it had held an industry meeting at the Korea Industrial Technology Association in Seoul, presided over by Park Ingyu, Head of the Science and Technology Innovation Bureau, to discuss the draft of the “2027 National R&D Investment Direction and Standards.”

In-gyu Park, Director General of the Science and Technology Innovation Bureau at the Ministry of Science and ICT, is speaking at an event. This is a reference photo to aid understanding of the article. Photo by Yonhap News.

This meeting followed a public hearing on February 25 and a research sector meeting on February 26. It was attended by corporate representatives, including subcommittee chairs of the Private R&D Council. The participants listened to an explanation of the draft investment direction for 2027 and offered suggestions on strategic investment directions and institutional improvement measures.

The “National R&D Investment Direction and Standards” is a statutory plan established annually in accordance with the Framework Act on Science and Technology, setting forth key investment areas and directions for the next year’s government R&D budget. It is subsequently used as a guideline for allocating and coordinating R&D budgets across government ministries.

The government plans to finalize the “2027 National R&D Investment Direction and Standards” by incorporating the feedback received at the meeting.

Park Ingyu, Head of the Science and Technology Innovation Bureau, stated, “In order for the government R&D budget to invigorate the industrial field and lead to tangible results, it is essential that the opinions of businesses and the private sector are thoroughly reflected. I ask for strategic and concrete suggestions.”

This content was produced with the assistance of AI translation services.