South Korea Plans to Increase R&D Investment in Nuclear Fusion and Small Modular Reactors

South Korea's Ministry of Science and ICT (MSIT) stated on September 1 that in the 2027 government budget proposal approved at a Cabinet meeting, the ministry's budget amounts to 29.6476 trillion Korean won, an increase of 24.5% compared to this year's supplementary budget. Of this, the R&D budget is planned to increase from 11.9 trillion won this year to 14.1 trillion won, accounting for 36% of the South Korean government's total R&D budget.

In the science and technology sector, MSIT plans to invest 12.377 trillion won in R&D related to next-generation artificial intelligence and advanced technologies. In explaining the budget proposal, the ministry's First Vice Minister stated that in response to the growing electricity demand driven by AI development, South Korea will accelerate the development of future clean energy sources such as small modular reactors (SMRs) and nuclear fusion, while expanding investment in related core technologies.

According to the budget arrangement, the South Korean government will allocate an additional 160.1 billion won for R&D in core nuclear fusion technologies and the construction of demonstration infrastructure; it will also allocate 18 billion won for the commercialization technology development of innovative small modular reactors (i-SMR).

The budget proposal also states that the government will invest 564.08 trillion won in the development and commercialization of national strategic technologies, including biotechnology, semiconductors, and nuclear energy. MSIT stated that the 2027 budget plan aims to drive the development of key technologies through R&D investment, and the relevant budget is still subject to review by the National Assembly.