The value added of scientific R&D in South Korea is forecasted to grow from 57.05 trillion KRW in 2024 to 60.332 trillion KRW in 2028, illustrating a clear upward trend. In 2023, the value stood at 56.234 trillion KRW. The year-on-year variations show incremental growth: 1.49% in 2024, 1.48% in 2025, 1.44% in 2026, 1.38% in 2027, and 1.34% in 2028. Over the last five years, the compound annual growth rate (CAGR) projects a consistent increase, averaging around 1.43% annually, indicating sustainable development in this sector.
Future trends to watch for include advancements in digital and green technologies, potential government incentives for R&D activities, and increased collaboration between private and public sectors. Keeping an eye on global economic conditions and trade policies will also be crucial, as they could significantly impact investment flows into scientific R&D.
