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Mobility

EV subsidies run out, Q4 buying cliff takes hold in South Korea

South Korea is seeing an electric-vehicle buying slump as paths to receive subsidies for new purchases are effectively closing. Many local cities and counties have already stopped accepting applications, and major areas including Seoul and Gyeonggi are nearing exhaustion of 2026 budgets. Some import-car dealerships are steering new customers toward deliveries in the first half of next year, making subsidy receipt uncertain. Automakers are shifting shipments toward hybrids, while battery makers seek more North American grid ESS orders.

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.