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AI & Enterprise

Four science and technology institutes\' student startup teams gather for Gravity 2026 finals

South Korea\'s Ministry of Science and ICT is holding a joint startup competition to support deep-tech ventures by students at four science and technology institutes. The Gravity 2026 finals will take place on Sept. 3 at the Korea Advanced Institute of Science and Technology. A total of 310 teams applied. Support has been expanded to 140 teams using a 39.8 billion won supplementary budget. Twenty teams advanced to the finals, with prizes of up to 200 million won.

AI & Enterprise

MSIT sets 2027 budget at 29.6 trillion won, with 9.4 trillion won for AI

South Korea’s Ministry of Science and ICT proposed a 2027 budget of 29.6 trillion won, up 24.5 percent from this year’s supplementary budget. AI spending would rise 84.3 percent to 9.4 trillion won, while R&D funding would increase 18.5 percent to 14.1 trillion won. The ministry plans investments in semiconductors, physical AI and AI data centres, expansion of GPU capacity for independent AI models, AI services and inclusion programmes, and funding for advanced technologies including quantum, biotech and space.

Industry

Government to set up future response fund based on 162.3 trillion won in extra tax revenue, double megaproject budget

South Korea’s government plans to create and set aside a 162.3 trillion won future response fund in its 2027 budget, allocating 45.4 trillion won to four areas: youth, growth engines, regions and education and talent. Spending for “three megaprojects plus AI” covering semiconductors, physical AI and AI data centres rises 97.2 percent to 21.3 trillion won. Total 2027 spending is set at 820.9 trillion won, up 12.8 percent.