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Korea to set up standing consultative body on national R&D budget planning

Korea’s Planning and Budget Office and the Ministry of Science and ICT will strengthen cooperation to improve the efficiency and consistency of R&D investment, officials said. This year’s R&D budget totals 35.5 trillion won, with 30.5 trillion won in major programmes first drafted by the science ministry’s Innovation Headquarters before final compilation by the planning office. The ministries will create a monthly director-general level council, expand mutual participation in budget processes and tighten rules on late-stage submission of new projects from 2027 planning.