The country's investment in research and development last year eclipsed 5% of gross domestic product, the second-highest rate in the world. Shown is HD Hyundai's artificial intelligence-based system on Oct. 29 to control welding defects at K-Business Square in Gyeongju, Gyeongsangbuk-do Province, during the Asia-Pacific Economic Cooperation forum. (Park Dae Jin)

By Margareth Theresia

The country's investment in research and development (R&D) as a percentage of gross national product (GDP) last year broke 5% for the first time to rank second worldwide, with R&D spending surpassing KRW 130 trillion.

The Ministry of Science and ICT on Dec. 26 said this in releasing its survey on 2024 R&D activity. R&D spending last year rose 10.1% (KRW 11.97 trillion) from 2023 to KRW 131.04 trillion, raising the GDP-to-R&D investment ratio to 5.13%, second only to Israel in the world.

This year-long survey was done on 69,402 institutions including public agencies, universities and companies that conduct R&D, analyzing their R&D status.

By source, government and public funds for R&D fell KRW 360.4 billion year on year to KRW 27.76 trillion. But private and foreign funds rose KRW 12.33 trillion to KRW 103.27 trillion thanks to higher investments primarily in telecommunications and broadcast equipment manufacturing.

The overall number of researchers last year grew 1.9% to 615,063. That of personnel in the sector including research assistants reached 839,582, up 1.4%.

By sector, companies had the most researchers with 447,351, followed by universities with 120,974 and public think tanks 46,738.

In addition, the number of full-time researchers per 1,000 employees was 17.6 and that per 1,000 people 9.8, topping the world in both indicators.

margareth@korea.kr