South Korea’s tech ambitions at risk from government’s R&D budget whiplash



Analysis South Korea’s tech ambitions at risk from government’s R&D budget whiplash Inconsistent policies, poor communication erode trust and threaten Korea’s position in global chip market Choi HaanApril 4, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON South President Yoon Suk-yeol attends the launch event of the Korea Space Industry Cluster, March 13, 2024 \| Image: ROK Presidential Office The Yoon administration’s decision to cut the country’s research and development (R&D) budget for 2024 by 15% from the previous year sparked intense backlash from the research community, raising concerns about South Korea’s ability to maintain its competitive edge in the global technology market. The initiative was met with intense criticism, as exemplified by a recent incident at the Korea Advanced Institute of Science and Technology (KAIST). During a graduation ceremony, a student protested against the budget cut while President Yoon Suk-yeol delivered his speech. INTENSIFYING GLOBAL COMPETITION The semiconductor industry has become increasingly crucial in the modern global society, © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Lee Jae Myung’s ‘pacemaker’ strategy tests South Korea’s leverage with Trump 02Trump’s Korea investment victory lap masks safeguards Seoul still controls 03North Korean POW dispute tests Seoul-Kyiv trust and future Ukraine policy 04South Korea’s CPTPP push exposes the cost of turning trade gains into consensus 05AI storage boom gives South Korea battery makers an EV overcapacity lifeline 06South Korea’s Mexico strategy runs into the hard limits of USMCA politics 07Preschool test ban forces South Korea’s English hagwons to rethink placement 08Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility

Analysis

South Korea’s tech ambitions at risk from government’s R&D budget whiplash

Inconsistent policies, poor communication erode trust and threaten Korea’s position in global chip market

Choi HaanApril 4, 2024

South Korea’s tech ambitions at risk from government’s R&D budget whiplash

South President Yoon Suk-yeol attends the launch event of the Korea Space Industry Cluster, March 13, 2024 | Image: ROK Presidential Office

The Yoon administration’s decision to cut the country’s research and development (R&D) budget for 2024 by 15% from the previous year sparked intense backlash from the research community, raising concerns about South Korea’s ability to maintain its competitive edge in the global technology market.

The initiative was met with intense criticism, as exemplified by a recent incident at the Korea Advanced Institute of Science and Technology (KAIST). During a graduation ceremony, a student protested against the budget cut while President Yoon Suk-yeol delivered his speech.

INTENSIFYING GLOBAL COMPETITION

The semiconductor industry has become increasingly crucial in the modern global society,

South Korea’s tech ambitions at risk from government’s R&D budget whiplash

LATEST ANALYSIS

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Choi Haan