Next Year's Science and Technology Budget Significantly Increased for Digital New Deal, Future Projects, and Vaccine Investment

Ministry of Science and ICT Announces 2022 Budget and Fund Plan

[Asia Economy Reporter Kim Bong-su] The government will focus investment on research and development (R&D) budgets for digital New Deal 2.0 projects, including strengthening digital infrastructure such as the 'Data Dam,' support for COVID-19 vaccine development, and space development projects such as the Nuri rocket and lunar exploration spacecraft.

The Ministry of Science and ICT announced on the 31st a 2022 budget and fund plan totaling 18.6 trillion won, which includes these contents. This is an increase of about 6.3% (1.1 trillion won) compared to 17.5 trillion won in 2021. Among this, the pure research and development (R&D) budget is 9.4 trillion won, an 8% increase from 8.7 trillion won this year.

In particular, there is concentrated investment in the Digital New Deal projects. The budget increased by 35.7%, from 2.0878 trillion won this year to 2.8339 trillion won next year. Specifically, 1.4642 trillion won is allocated for building the Data Dam, 901.2 billion won for AI and 5G convergence, 234.2 billion won for digital content, and 234.3 billion won for K-Cyber Quarantine.

To secure future market leadership, investment in strengthening three new industries?bio-health (415.5 billion won), next-generation semiconductors (120.8 billion won), and core technologies for future vehicles (45.2 billion won)?will total 580 billion won, a 25.2% increase compared to this year. A budget of 910 billion won is also allocated for realizing an inclusive society, a 12% increase from this year. This includes 144.2 billion won for developing core technologies to achieve carbon neutrality by 2050, 63.8 billion won for strengthening disaster safety and social problem response technology capabilities, 212 billion won for digital inclusion, and 487.5 billion won for regional innovation and international cooperation.

The budget for basic, fundamental, and advanced strategic technology development to secure original technologies for space development, vaccines, and materials, parts, and equipment will also increase by 8.0% to a total of 7.45 trillion won compared to this year. This includes 2.4261 trillion won for basic research support projects, 409.8 billion won for space development, and 102 billion won for establishing a vaccine hub. Regarding the vaccine hub, the government doubled the budget from 52.8 billion won this year to 102 billion won next year to develop next-generation vaccine core technologies, support preclinical trials, and strengthen basic virus research capabilities. Among this, 19.3 billion won is newly allocated for vaccine hub infrastructure support, and the budget for operating virus basic research institutes and research resource centers will increase from 10.9 billion won this year to 26.8 billion won next year. Research and development support for materials, parts, and equipment will receive 445.9 billion won, nuclear and quantum technology development 650.3 billion won, and support for government-funded research institutes 3.4196 trillion won, respectively. Notably, 34.6 billion won is newly allocated for developing core technologies to improve the safety of operating nuclear power plants, and 5.3 billion won for developing convergent core technologies to strengthen nuclear power plant dismantling safety.

Additionally, 730 billion won is allocated for future talent development projects, a 3.4% increase compared to this year. Of this, 507.2 billion won will be used for nurturing science, technology, and ICT talent, and 162.5 billion won for the development of science and culture.

Minister of Science and ICT Lim Hye-sook said, "We will complete Korea's leap forward through the digital transformation achieved by the success of Digital New Deal 2.0 and actively promote people-centered innovation in science, technology, and ICT," adding, "We will build national capabilities to lead the global competition for technological supremacy."

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