South Korea's R&D investment next year is expected to top 100 trillion won or 90 billion U.S. dollars for the first time.
22 percent will be funded by the government.
The rest from the private sector.
President Moon Jae-in announced the figure on Monday at a meeting of the Presidential Advisory Council on Science and Technology.
The budget will also be used to develop vaccines and treatments for COVID-19.
He highlighted the importance of promoting private investment by providing incentives for technologies proven to be competitive.