President Yoon Suk Yeol called for the government to eliminate preliminary feasibility studies for research and development projects in order to accelerate their implementation and support economic growth. He made this directive during a national financial strategy meeting held to discuss fiscal policy issues ahead of the government's formulation of next year's budget. President Yoon emphasized the need to nurture R&D as the foundation of growth and urged a significant increase in investment while also seeking to relax regulations on preliminary feasibility studies to keep pace with rapid technological progress. The current requirement for government-funded projects valued at over 50 billion won to undergo feasibility studies lasting several months has been a point of contention within the science and technology community. The finance and science ministries have announced plans to reform relevant policies to enable the swift and flexible implementation of R&D projects, while also considering measures to supplement the review procedure to address potential issues resulting from the elimination of preliminary feasibility studies. President Yoon also highlighted the need for a comprehensive review of government-funded projects aimed at boosting the country's birth rate, as South Korea's total fertility rate reached a record low in 2023. The meeting was attended by senior officials including the Prime Minister, Finance Minister, and ruling party interim leader.