S. Korean gov't to invest $837 mn in AI chip tech under new digital push

[Photo by Yonhap]

South Korea has earmarked 1.2 trillion won ($837 million) for the development of AI semiconductor technology as part of its national push to groom artificial intelligence, mobile network, quantum computing, metaverse, and cyber security for digital innovation in the country.

The Korean government has set a goal to elevate the county to the world’s No. 3 digital innovation powerhouse and cement the country’s leadership among OECD countries in digital infrastructure and digital government index. It will also strive to become No. 1 in World Intellectual Property Organization’s Global Innovation Index by 2027, up four notches from 2021.

To achieve the goal, the Ministry of Science and ICT has designated AI technology including AI semiconductor, 5G and next generation mobile network, quantum computing, metaverse, and cyber security, as key technologies to foster, the ministry announced Wednesday.

The ministry said it will inject 1.2 trillion won in the development of AI semiconductor technology by 2026 and 301.8 billion won in next generation AI technology.

The ministry also targets to set up 5G network across the country by 2024 and become the first country in the world to test 6G network by 2026.

Software as a service (SaaS) will be nurtured as the center of software industry. The ministry aims to triple the number of SaaS firms in the country from 780 in 2020 to 2,000 by 2027.

Separately, the Korean government has released detailed plans for reforming administrative services through digital platform, one of major political agenda of Yoon Suk-yeol administration. The government will begin digitalization in public services where immediate changes are possible, such as real estate contracts and management support for small businesses.

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