Park In-kyu (박인규), head of the Science and Technology Innovation Office, chaired the steering committee meeting of a private-sector research and development (R&D) consultative council in Seoul on Wednesday. He heard industry views on the government’s proposed 2027 R&D budget and future investment directions.

The private-sector R&D consultative council is a standing public-private communication channel in which technology executives from about 200 leading companies across major domestic industries take part to identify and propose industry R&D needs. It consists of 11 subcommittees in six fields: carbon neutrality and carbon-free energy, future mobility, advanced bio, digital transformation and aerospace.

At the meeting, the Korea Industrial Technology Association reported the council’s operating results for this year. The Ministry of Science and ICT shared the results of drawing up the proposed 2027 government R&D budget and key industry-related investment plans, including corporate support and commercialisation and a shift to manufacturing AI transformation (AX).

Park said the government would expand investment in corporate support and commercialisation and newly introduce investment-type R&D to strengthen a partnership with the private sector that grows together. He also said it would faithfully reflect changes and demand on the industrial front in government R&D investment.