South Korea to invest US$7 billion in AI in bid to retain edge in chips

SEOUL: South Korean President Yoon Suk Yeol acknowledged on Tuesday (Apr 9) his country will make investments 9.4 trillion won (US$6.94 billion) in synthetic intelligence by 2027 as phase of efforts to rob care of a number one global feature in reducing-edge semiconductor chips.

The announcement, which also features a separate 1.4 trillion won fund to foster AI semiconductor corporations, comes as South Korea tries to defend abreast with international locations enjoy the United States, China and Japan that are also giving wide protection reinforce to enhance semiconductor provide chains on their enjoy turf.

Semiconductors are a key foundation of South Korea’s export-pushed economy. In March, chip exports reached their highest in 21 months at US$11.7 billion, or relating to a fifth of total exports shipped by Asia’s fourth-greatest economy.

“Latest competition in semiconductors is an industrial war and an all-out war between international locations,” Yoon told a assembly of policymakers and chip industry executives on Tuesday.

By earmarking investments and a fund, South Korea plans to greatly develop be taught and development in AI chips such as synthetic neural processing units (NPUs) and next-technology high-bandwidth memory chips, the government acknowledged in a assertion.

South Korean authorities can even promote the enchancment of next-technology synthetic fundamental intelligence (AGI) and security technologies that depart past existing items.

Yoon has feature a purpose for South Korea to alter into one in every of the pinnacle three international locations in AI technology collectively with chips, and rob a 10 per cent or extra half of the global machine semiconductor market by 2030.

“Ethical as now we enjoy dominated the area with memory chips for the past 30 years, we are able to write a brand unusual semiconductor delusion with AI chips in the subsequent 30 years,” Yoon acknowledged.

Yoon also noted that the impact of basically the most modern earthquake in Taiwan, a world leader in semiconductors, on South Korean corporations was restricted as of now, but ordered thorough preparation in the match of uncertainties.