The South Korean president Yoon Suk Yeol announced a massive investment of 9.4 trillion won (6.94 billion dollars) in artificial intelligence by 2027. The goal is to maintain the global leading position of South Korea in semiconductor chips, exploiting the potential ofAI.
South Korea: $7 billion for AI and chip leadership
As Reuters explains, Yoon's announcement also includes a separate fund of 1.4 trillion won to promote artificial intelligence semiconductor companies. This move comes at a time when South Korea tries to keep up with countries like the United States, China and Japan, which are providing massive policy support to strengthen their semiconductor supply chains.
Semiconductors are an essential foundation of South Korea's export-based economy. In March, chip exports reached highest level in the last 21 months, standing at 11.7 billion dollars, or almost a fifth of total exports.
South Korea plans to significantly expand research and development of IA chip like them artificial neural processing unit (NPU) e next-generation high-bandwidth memory chip.
But beyond chips, South Korea has huge ambitions for AI. Indeed, the South Korean authorities will promote the development ofartificial general intelligence (AGI) next generation and safety technologies that go beyond existing models.
The Korean president highlighted the importance of this investment, saying: “Just as we have dominated the world with memory chips for the past 30 years, in the next 30 years we will write a new semiconductor myth with AI chips.” Confirming that the economic battle over chips and AI will be a fulcrum for all the main economic realities in the world.
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