Party-Government: "AI Budget at KRW 9.4 Trillion... Push for Physical AI Special Act by Year-End"

Next Year's Ministry of Science and ICT Budget: KRW 29.6476 Trillion

The Democratic Party of Korea and the government discussed the proposed budget for next year related to artificial intelligence (AI), research and development (R&D), and cybersecurity, as well as key bills that need to be passed by the end of the year.

Rep. Han Junho of the Democratic Party of Korea, the ruling party's secretary on the National Assembly's Science, ICT, Broadcasting and Communications Committee, told reporters after a party-government consultation on Friday that the two sides had agreed to support the efforts with budgets and legislation so that investment in AI and science and technology would translate into stronger capabilities on the ground and greater public safety.

Rep. Han Junho of the Democratic Party of Korea, chair of the Information and Communications Broadcasting Media Bill Review Subcommittee, reports the results of the bill review at a full meeting of the National Assembly's Science, ICT, Broadcasting and Communications Committee on September 22. Yonhap News.

The Ministry of Science and ICT's budget for next year is KRW 29.6476 trillion, up KRW 5.8272 trillion from this year. Major allocations include KRW 9.4 trillion for AI-related projects and KRW 14.1 trillion for R&D.

Rep. Han said the two sides had agreed without disagreement to move ahead with the three major AI mega-projects as planned. He added that they would review the budget with a view to bolstering funding for cybersecurity, basic research, improved treatment of government-funded research institute employees, and, in particular, support for young researchers.

The Science, ICT, Broadcasting and Communications Committee and the Ministry of Science and ICT have identified 11 priority bills for passage by the end of the year. They include the Physical AI Special Act, the AI Bio R&D Promotion Act, amendments to the National R&D Innovation Act to introduce investment-type R&D, amendments to the Basic Research Promotion Act, the Digital Disaster and Service Disruption Safety Management Act, and amendments to the Network Act concerning IoT security.

Rep. Han said they planned to review the bills swiftly with the goal of passing them by the end of the year, adding that they were coordinating schedules for each subcommittee.

This content was produced with the assistance of AI translation services.