Recent reports confirm the repercussions of President Yoon Suk-yeol’s statement last June that the R&D budget needs reevaluation. Over 12,000 science and technology projects faced budget cuts this year, leading to the suspension of 96 projects due to the misallocation of funds. The upcoming review of the 2025 budget at the National Assembly is expected to reignite debates over the ‘cartel, shield and research suspension’ issues triggered by the President’s remarks.
The reduction in research funding has caused turmoil in the scientific community, with 1,958 projects facing modifications resulting in a 29.2% budget cut. Furthermore, 316 projects have lowered their objectives, potentially jeopardizing research outcomes.
Despite efforts to reverse the budget cuts and enhance R&D investments, opposition persists. The Finance Minister expressed willingness to overhaul R&D investments, admitting the mistakes in budget reallocation. However, the main opposition leader remained skeptical, suggesting that last year’s budget cuts were not mishandled.
As the debate continues, it remains to be seen how the government will navigate the complex landscape of R&D funding in South Korea.
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