Science ministry seeks record budget to fund AI, future growth engines

Seoul, September 1 - The Science Ministry has announced plans to seek a record budget for the upcoming year, investing heavily in artificial intelligence (AI) and other future technology drivers. The 2027 budget proposal, to be presented to the National Assembly, seeks 29.6 trillion won (approximately $21.6 billion) in annual spending, representing a 24.5% increase from this year's budget of 23.8 trillion won.

The primary objective of this substantial budget is to fund the government's "tripolar megaprojects" initiative, which encompasses semiconductor development, AI data centers, and physical AI technologies. A significant portion of the budget, 9.4 trillion won, will be dedicated to supporting the nation's AI transition, including a 795.6 billion won investment in the aforementioned megaprojects.

Additionally, 5.59 trillion won will be allocated to securing top-tier AI foundation models, alongside around 10,000 graphics processing units and necessary data for their development.

Beyond AI and semiconductors, the government aims to allocate 12.38 trillion won towards future growth drivers. This includes 1.34 trillion won for supporting research and development in seven seed projects, ranging from space technology to bio and small modular reactors. Around 900 billion won will be earmarked to promote balanced regional development, ensuring research and development labs are established outside of the capital areas to address social problems affecting everyday life.