The Presidential Committee on Policy Planning has announced plans to increase the significantly reduced research and development (R&D) budget under the Yoon Suk-yeol administration. President Lee Jae-myung requested that the National Science and Technology Advisory Council not finalize the R&D budget for the establishment of an innovation growth system, which he presented as a campaign promise.
Lee Chun-seok, head of the economic subcommittee of the Presidential Committee on Policy Planning, held a briefing on the 25th at the government complex in Changseong-dong, stating, "The economic subcommittee urgently reviewed the government's R&D budget for 2026 and expressed serious concern that the budget does not sufficiently reflect the operational direction of the Lee Jae-myung administration, and requested urgent supplements."
He added, "The Science and Technology Advisory Council should review the R&D budget in accordance with relevant laws, but I request that it not finalize it." He emphasized, "It would be ideal for the Science and Technology Innovation Headquarters to comprehensively review national tasks in July and August, and after supplementing the R&D budget, the Science and Technology Advisory Council should finalize the budget."
Last year, the Yoon Suk-yeol administration cut the R&D budget for the first time in 33 years since 1991. The government's R&D budget for 2024 is set at 26.5 trillion won, which represents a 14.7% decrease from the previous year (31.1 trillion won). The Yoon Suk-yeol administration cited the cartel in the science and technology sector and inefficient budget execution as the background for the cuts.
The subcommittee head stated, "The unreasonable and illegal budget cuts by the Yoon Suk-yeol administration during the 2024 government R&D budget planning process have devastated the scientific research ecosystem." He added, "The Lee Jae-myung administration proposed the stable expansion of the R&D budget, the expansion of the review scope, and the extension of the review period as campaign promises."
He continued, "If there are legislative issues in delaying the budget confirmation until around August instead of June to fulfill the president's campaign promises, I will discuss it with the National Assembly," and stated, "The current R&D budget has significantly shrunk and is undesirable for national development."
The economic subcommittee of the Presidential Committee on Policy Planning aims to establish real estate measures centered on increasing the supply of dwellings in the medium to long term. It also reported that it will oversee the transfer of the Ministry of Oceans and Fisheries to Busan while discussing issues related to office leasing and the construction of a new office.
The subcommittee head mentioned, "Measures regarding the short-term real estate market situation should be issues that the presidential office and the government should discuss closely, rather than the Presidential Committee on Policy Planning," and stated, "The Presidential Committee will focus on national projects related to the expansion of housing supply and residential welfare over a five-year period from a medium to long-term perspective."
He mentioned, "I understand that the president has instructed that the Ministry of Oceans and Fisheries can transfer to Busan within this year at the Cabinet meeting," adding, "The Presidential Committee on Policy Planning is expected to receive a concrete roadmap that can allow for the transfer by the end of the year, including leasing methods."