Between 2013 and 2023, South Korea's R&D budget for Health and Medical Sciences, expressed as a unit of GDP, shows fluctuations with a notable peak in 2015, followed by a period of stabilization and slight growth. The value in 2023 stands at 0.095. The last two-year variations display slight increases of 0.99% in 2022 and 0.96% in 2023, reflecting a steady focus on maintaining or mildly increasing investment levels. Over the last five years, the compound annual growth rate (CAGR) has averaged 1.39%.
Looking ahead to 2028, the forecast indicates a gradual rise in the R&D budget, reaching 0.099 in terms of GDP, with a 5-year CAGR forecast at 0.7%. This modest growth suggests a cautious but consistent investment in health and medical sciences R&D.
Future trends to watch for include:
- Potential impacts of emerging technologies on R&D allocation.
- Governmental policy changes that may increase or decrease funding.
- Global health challenges that could drive urgency and increased investment.
