South Korea is taking significant steps to bolster its artificial intelligence (AI) and technology infrastructure to compete on a global scale. The Ministry of Science and ICT has announced plans to invest approximately 1.5 trillion won (about $1.1 billion) over the next five years into AI research and development. This initiative aims to create a conducive environment for startups and increase the national competitiveness in technologies such as AI, quantum computing, and 5G networks. Minister of Science and ICT Lee Jong-ho stated, “We will uncover hidden potential in our nation and help our talent grow in these critical areas.”
The investment will also focus on enhancing collaborations between the private and public sectors, ensuring seamless integration of AI technologies across various industries including healthcare and manufacturing.
As part of this ambitious plan, South Korea aims to advance its quantum computing technology to at least one-step behind global leaders by 2025. The government has allocated funds to support education and training programs to cultivate a skilled workforce in AI and associated fields.
In a related initiative, the government announced plans to reduce regulations restricting technology development in order to foster innovation. This aligns with the overarching goal to make South Korea a leading hub for technological advancement in Asia and globally.
Moreover, during a recent meeting, President Yoon Suk-yeol emphasized the importance of AI in securing the country’s future economic growth and called upon corporate partners to contribute to these efforts. He mentioned the need to “captivate the imagination of the people” with the potential of AI and technology, as well as to engage the young generation in these fields to drive innovation forward.
The tech landscape in South Korea has been increasingly competitive, especially with countries like China and the United States making significant advances in AI and tech. This necessitates a focused approach from the South Korean government and industry leaders to ensure sustainable growth and competitiveness on the world stage.
