Seoul: The Government of Korea announced plans to allocate a record-breaking 35.3 trillion won (US$25.1 billion) for research and development (R and D) projects in 2026. This initiative aims to enhance productivity and foster new growth engines.

According to Emirates News Agency, the allocation marks a 19.3 percent increase from this year's 29.6 trillion-won R and D budget, as reported by the Ministry of Science and ICT. A significant portion of the budget, amounting to 2.3 trillion won, is earmarked for advancing the "transformation of the economy and society through artificial intelligence (AI) technology," which represents more than double the investment planned for 2025.

The government's strategy includes the integration of AI across various industries and its expanded use in the public sector, such as administration, health care, and defense. Additionally, 2.6 trillion won will be dedicated to the development of renewable energy technologies, reflecting a 19.1 percent increase compared to this year's budget in the same sector.