1.5551 trillion won in R&D to secure competitiveness of small and medium-sized businesses
231.8 billion won for the Digital New Deal for the digital economy system.
Investing KRW 859.2 billion in the Green New Deal and carbon neutrality.


On the 30th, the Ministry of Trade, Industry and Energy announced the 2021 Integrated Implementation Plan for Industrial Technology Innovation, which includes a KRW 4.9518 trillion industrial technology R&D support plan. This represents an 18.7% increase compared to the KRW 4.1718 trillion budget in 2020.

In 2021, the Ministry of Trade, Industry and Energy will continue to expand investment in the materials, parts, and equipment (SME) sector and the three major new industries for innovative growth (Big 3), and strengthen investment in the Korean New Deal, including the Green New Deal and Digital New Deal, and in achieving carbon neutrality (net-zero) by 2030.

◇ R&D investment by sector: Small and Medium Businesses and New Industries account for the largest proportion.

In response to the restructuring of the global supply chain for materials, parts, and equipment, KRW 1.5551 trillion will be invested in R&D across the entire cycle of small and medium-sized businesses, from technological independence of core items to commercialization. This is an increase of 278.6 billion won, or 21.8%, compared to 2020.

A total of KRW 966.5 billion will be invested in innovative growth new businesses that will drive future growth, such as system semiconductors, future vehicles, and bio, while KRW 231.8 billion will be invested in the Digital New Deal, which aims to transform the economic system into a digital-based system through the advancement of non-face-to-face core technologies and DNA (data, networks, and AI).

To achieve "2050 Carbon Neutrality" through energy efficiency, activation of the hydrogen economy, and expansion of renewable energy, 859.2 billion won will be invested in the Green New Deal and carbon neutrality. Investment will also be made in human resource development projects (154.3 billion won) to effectively respond to the worsening employment situation caused by the economic crisis, and in regional economic revitalization efforts (286 billion won) such as establishing R&D infrastructure to strengthen regional innovation growth capabilities.

The Ministry of Trade, Industry and Energy will provide project guidance materials through the websites of dedicated organizations such as the Korea Industrial Technology Evaluation and Planning Institute to provide extensive information to those wishing to participate in the 2021 industrial technology R&D project. Furthermore, on January 19th of next year, the Ministry of Science and ICT will hold a joint briefing session with other ministries to explain the implementation plan for next year's industrial technology R&D project.

In addition to research funding, the Ministry of Trade, Industry and Energy plans to continue pursuing institutional improvements to reduce unnecessary interference and promote autonomy for researchers. Specifically, starting in January, 30 outstanding research institutions will be granted an R&D sandbox track, exempting them from all R&D regulations, including target changes and budget rollovers.