South Korean ICT Companies Boost R&D Investments 13.8% in 2024 Amid AI Boom
South Korean internet and communication technology firms increased R&D spending to 64.6 trillion won in 2024, up 13.8 percent from the previous year, driven by the artificial intelligence surge. This marked the steepest annual rise in six years and accounted for over 60 percent of national corporate R&D. Large conglomerates led the growth, while venture firms saw a slight decline.
Substrate placeholder — needs reviewKr reported, citing data from the Ministry of Science and ICT. 6 percent of all corporate R&D spending in South Korea for the year. This rate of increase was the steepest in six years, highlighting the sector's rapid expansion.
6 percent of these investments. 2 trillion won. 1 percent of the R&D funding originated from firms involved in advanced semiconductors.
4 percent of the total. 5 trillion won. 9 percent from 2023.
3 percent decline in R&D investments compared to the previous year. Despite this dip, the overall sector added 5,200 R&D-related jobs in 2024. The total number of people employed in R&D by South Korean ICT companies reached 225,900.
This figure accounted for 48 percent of all corporate R&D personnel in the country.
