Company R&D investments for AI South Korea 2018-2023

Published by
Jang Seob Yoon,
Sep 19, 2024

In 2023, it was estimated that companies invested approximately 3.47 trillion South Korean won into research and development (R&D) regarding artificial intelligence (AI) in South Korea. The three-year period from 2020 to 2022 saw a Compound Annual Growth Rate (CAGR) of about 17 percent for such investments.

Company research and development (R&D) investments for artificial intelligence (AI) in South Korea from 2018 to 2023 (in billion South Korean won)

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Release date

April 2024

Region

South Korea

Survey time period

2018 to 2023

Number of respondents

2,354 companies in 2023

Method of interview

Face-to-face interview, online survey

Supplementary notes

*Estimate.

1,000 South Korean won equals 0.75 U.S. dollars or 0.67 euros as of September 2024. 

Respondent counts for previous years are as follows:
2018-2019: 496 companies
2020-2021: 1,915 companies
2022: 2,354 companies 

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