Science Ministry seeks nearly 30 trillion won for record AI-focused budget

The Science Ministry said Tuesday it will seek a record budget for next year to secure investments in AI as well as future technology drivers.

The 2027 budget proposal to be submitted to the National Assembly calls for a record 29.6 trillion won ($21.6 billion) in annual spending, up 24.5 percent from this year's 23.8 trillion won, according to the Ministry of Science and ICT.

The budget proposal for next year is aimed at funding the government's tripolar megaprojects initiative, as well as nurturing future growth technologies, the ministry said in a release.

Of the total, 9.4 trillion won will be allocated to supporting the country's AI transition, which will include a 795.6 billion won investment in the government's three megaprojects unveiled in June, focusing on semiconductors, AI data centers and physical AI.

A total of 5.59 trillion won will be invested in securing top-level AI foundation models, as well as around 10,000 GPUs and data needed to develop them, the ministry said.

To secure future growth drivers beyond AI and semiconductors, the government plans to allocate a total of 12.38 trillion won. This includes 1.34 trillion won to support research and development in the seven so-called SEED projects announced early this month, which include space technology, bio and small modular reactors.

Around 900 billion won will be earmarked to promote balanced regional development. The budget will be used to support research and development labs outside of the country's capital areas, and to develop technologies that can help solve social problems related to people's everyday lives, the Science Ministry said.

Yonhap