Key facts
- South Korea's science ministry is requesting a record 29.6 trillion won budget for 2027.
- The budget focuses on AI and future growth technologies.
- South Korea's space agency is seeking a record 1.65 trillion won budget for 2027.
- The space agency's budget represents a 47.2% increase.
- South Korea's media watchdog seeks a 34.6 billion-won budget for 2027.
- The media watchdog's budget aims to foster AI and fact-checking.
South Korea's Ministry of Science and ICT is requesting a record 29.6 trillion won budget for 2027, with a primary focus on artificial intelligence and future growth technologies. This initiative aligns with the nation's broader strategy to position AI as a key economic driver.
In parallel, South Korea's space agency (KASA) is seeking a significant budget increase of 47.2%, totaling 1.65 trillion won for 2027, to advance its aerospace programs and lunar exploration efforts. Additionally, the country's media watchdog has requested a 34.6 billion-won budget for the same year, specifically aimed at fostering AI development and enhancing fact-checking capabilities.
These budget requests come as Science Minister Bae Kyung-hoon attended the Group of 20 (G20) Innovation Ministerial Meeting in North Carolina. During the event, Minister Bae presented South Korea's policies designed to cultivate AI as a primary growth engine and shared updates on the government's "megaproject" initiative, which involves substantial investments in AI data centers, advanced semiconductors, and physical AI. He emphasized South Korea's dedication to contributing to a global AI ecosystem and sought member nations' interest in the country's digital policies. The meeting, which included policymakers and executives from 21 countries, is expected to conclude with a ministerial statement.