South Korea to invest over $640 million in the AI semiconductor Industry
South Korea has made a bold move to become a key player in the global race for next-generation AI chips by earmarking $642.5 million to invest in companies working on advanced AI chips through 2030.
The Ministry of Science and ICT’s announcement is part of the country’s bigger digital strategy plan that focuses on six major technologies, including AI, AI semiconductors, 5G and 6G communication, quantum, metaverse and cybersecurity.
The investment will involve building new data centers, working with AI chip startups, and teaming up with cloud service providers to push the country’s digital dominance.
South Korea’s efforts come on the heels of other countries like the US, Japan, and India who are also making strategic plans to become strongholds in the advanced chip race.