South Korea's science ministry said Wednesday that it has requested a 3.2 percent decrease in its budget for next year amid a government-led campaign to remove inefficiencies in the science and technology sectors.
The Ministry of Science and ICT said it has proposed 18.3 trillion won (US$13.8 billion) for next year's budget to secure core strategic technologies, support international scientific cooperation, foster young talents in the science and digital fields, expand digital transformation and improve the capabilities of state-funded research centers.
The reduction was led by a 10.2 percent on-year cut in the ministry's budget of 8.8 trillion won for research and development (R&D) projects.
It is apparently in line with the government's full-scale review of subsidies provided for R&D projects run by state-run research centers and institutions.
In June, the state audit agency launched an inspection into dozens of institutions, including the science ministry and ministry-affiliated research centers.
The science ministry said it has requested 2.4 trillion won for investing in 12 strategic technologies, including advanced bio, artificial intelligence (AI) and space science.
Some 1.1 trillion won was set aside for international cooperation, while 2.8 trillion won will be used for training science and digital experts and 1.3 trillion won was set for building digital and AI-led infrastructure.
The budget for state-run research centers and local development projects will amount to 4.3 trillion won, added the ministry.
"The science ministry's 2024 budget is aimed at creating new growth momentum and nurturing top talents through removing inefficiencies in world-class R&D," the ministry said in a statement.
Source: Yonhap News Agency