The Ministry of Science and ICT said on the 29th that amendments to the National Finance Act and the Framework Act on Science and Technology, which abolish the preliminary feasibility study (pre-feasibility) for national research and development (R&D) projects and change the inspection and management system according to the nature of the project, passed the National Assembly's plenary session.
Under the amended National Finance Act, large-scale national R&D projects with a total project cost of 50 billion won or more are excluded from pre-feasibility. The Ministry of Science and ICT said the aim is to lower institutional barriers so investment decisions can be made more quickly in fields where securing technological leadership is crucial.
To address concerns that new project planning could become lax with the removal of pre-feasibility, the Framework Act on Science and Technology introduces a new pre-check system. For R&D projects of 100 billion won or more, there will be a procedure to review business plans before budget deliberations, and the method of application will vary by project type. The follow-up system will be applied by distinguishing between build-type R&D projects, such as the construction of research facilities and equipment, and other R&D projects, in consideration of the characteristics of R&D.
The Ministry of Science and ICT sees rapid and flexible implementation as key in areas where R&D outcomes accumulate quickly, such as artificial intelligence (AI) and advanced bio. The existing R&D pre-feasibility has taken an average of more than two years to pass, drawing criticism that it could delay the securing of national strategic technologies. Citing quantum technology, the ministry emphasized that although pre-feasibility was pursued from the technology's inception in 2016, large-scale investment was delayed due to reasons such as insufficient economic viability, widening the technology gap with the United States to more than six years.
However, to ensure sufficient review even after the abolition of pre-feasibility, it said it will add a procedure to check business plans in advance from November of the previous year to March of the following year, securing both speed and scrutiny.
On the other hand, for build-type R&D that requires systematic management, such as the construction of research facilities and equipment, a separate review system will be strengthened. The plan is to establish a full life-cycle management system by introducing a project implementation review to verify the feasibility and viability of new projects, and a plan change review to assess appropriateness when changes are needed during implementation.
The Ministry of Science and ICT said that in a survey conducted in Apr. last year of 15,000 researchers at government-funded research institutes, 84% responded in favor of abolishing pre-feasibility. The ministry explained that since its introduction in 2008, pre-feasibility has been criticized on the ground that it has reduced the speed and flexibility of R&D implementation.
The government plans to push for the enactment and revision of administrative rules outlining detailed operational directions, such as inspection standards and procedures, in line with the enforcement of the amended laws, and to continue briefings for relevant ministries and specialized agencies to ensure the system takes root in the field.
Vice Premier and Minister Bae Kyung-hoon said, "Amid the competition for technological hegemony, we will innovate the R&D investment and management system," and added, "Through pre-checks, we will secure both fiscal soundness and a framework for project implementation."