South Korea’s R&D expenditure as a percentage of GDP has shown a gradual increase from 2013 to 2023. Starting at 3.95% in 2013, actual figures showed consistent growth, reaching 5.22% in 2023. The CAGR from 2018 to 2023 indicates an average annual growth rate of 2.92%. Recent year-on-year variations have hovered around 2.81% as of 2023, with no substantial deviations. Forecasts suggest the upward trend will continue, with future values predicted to reach 5.92% by 2028, marking a forecasted 5-year CAGR of 2.01% and a cumulative growth of 10.47% over this period.
Looking ahead, there are several future trends to watch:
- Increased government funding and policy support for innovation.
- Strategic investments in emerging technologies such as AI and biotechnology.
- Enhanced collaboration between academia, industry, and international partners.
