Ministry of Science and ICT to Invest 2500 Billion Won in AI New Drug Development Next Year, Aiming to Cut Development Period by 90%

The Ministry of Science and ICT plans to allocate 2500 billion won in 2024 for AI-driven new drug research in biotech and health sectors, targeting a 10-fold acceleration in drug development by 2035. Under the K-Moonshot project, two key initiatives—'AI-Autonomous Experimentation-Based Next-Gen Drug Research Hub' and 'Cancer Immunomicroenvironment Foundation Model'—will be prioritized to enable three AI-designed drug candidates to enter clinical stages by 2035, reducing development timelines by 90%. The ministry has secured 322 billion won for 2024 and 1845 billion won by 2030 for these projects.