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This render represents sovereign AI. [YONHAP]

R&D spending by Korean ICT companies rose 13 percent in 2024: Ministry

Investments in research and development (R&D) made by Korean internet and communication technology (ICT) companies rose in 2024 from a year earlier, due to the AI boom, government data showed Wednesday.

2026.4.29

Pills are being manufactured in this file image [GETTY IMAGES]

Pharmaceuticals make bigger bets on fewer projects with AI-powered drug discovery

AI is rapidly reshaping the global pharmaceutical and biotech industry, with companies funneling bigger bets into fewer, high-stakes partnerships to improve drug development success rates.

2026.3.18

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SK hynix spends 6.7 trillion won on R&D last year amid HBM boom: Data

SK hynix poured 6.7 trillion won ($4.4 billion) into research and development (R&D) projects in 2025 amid soaring demand for high bandwidth memory (HBM) products in the wake of the global AI boom, data showed Sunday.

2026.3.15

A view of the Daesan Petrochemical Complex in South Chungcheong, home to major petrochemical firms including LG Chem, Lotte Chemical and HD Hyundai Chemical [YONHAP]

Government, chemical companies discuss strategies for sustainable sector transformation

The government and local chemical companies gathered on Wednesday to discuss measures to foster the high-value and environmentally friendly transition of the struggling chemical sector, the Ministry of Trade, Industry and Resources said.

2026.3.4

Gov't to launch committee to coordinate R&D budget planning

The Science Ministry plans to launch a joint committee with the Budget Ministry to coordinate planning for the country's research and development (R&D) budget, according to officials Monday.

2026.1.12

A petrochemical industrial complex in Ulsan is seen on May 6, 2020. [YONHAP]

Gov't unveils road map to boost competitiveness of chemical industry

The government on Tuesday unveiled a road map to promote technological innovation of the local chemical industry centered around transitioning to high-value and eco-friendly products, the industry ministry said.

2025.12.23

President Lee Jae Myung delivers remarks during a national forum on science and technology at the National Science Museum in Daejeon on Nov. 7, in this photo provided by the Presidential Office. [PRESIDENTIAL OFFICE]

'National Scientist' program aims to boost research, attract foreign talent by 2030

In a push to create a new group of elite "national scientists," President Lee Jae Myung has stated his intention to boost support for local scientific talent and recruit 2,000 researchers from abroad by 2030.

2025.11.10

President Lee Jae Myung delivers a keynote address at the opening ceremony of Seoul ADEX 2025 at Kintex in Ilsanseo District, Goyang, Gyeonggi, on Oct. 20. [JOINT PRESS CORPS]

Korea aims to become top-four defense power by 2030, says Lee

President Lee Jae Myung vowed Monday to make a “bold and unprecedented” investment in defense and aerospace research and development (R&D) through 2030.

2025.10.20

Samsung Electronics' next-generation semiconductor research and development complex in Giheung, Gyeonggi, on Nov. 18, 2024 [SAMSUNG ELECTRONICS]

Samsung hikes R&D spending a world-topping 71 percent

Samsung Electronics significantly increased its research and development spending in 2024, reaching $9.5 billion, moving it to third place among major semiconductor companies.

2025.9.2

President Lee Jae Myung speaks at the first full session of the Presidential Advisory Council on Science & Technology at the presidential office in Yongsan, central Seoul, on Aug. 22. [JOINT PRESS CORPS]

Gov't allocates record $25.3 billion to national R&D next year, AI gets steepest funding boost

The government set next year’s national research and development budget at 35.3 trillion won ($25.3 billion), a 19.3 percent increase from this year and the largest allocation ever, in the first such proposal under the Lee Jae Myung administration.

2025.8.22