South Korea Pledges $7.9 Billion for AI and Semiconductors, Aiming for Global Top Three

April 9, 2024
South Korea Pledges $7.9 Billion for AI and Semiconductors, Aiming for Global Top Three
  • South Korean President Yoon Suk Yeol has announced a substantial KRW 9.4 trillion investment in AI to bolster the country's industry by 2027.

  • An additional KRW 1.4 trillion fund is designated to support AI semiconductor firms, reinforcing South Korea's commitment to its semiconductor sector.

  • The investment strategy is focused on securing South Korea's global semiconductor market share, targeting 10% by 2030, and becoming a top three leader in AI technology.

  • President Yoon highlights the importance of preparation for uncertainties, drawing lessons from the recent earthquake's impact on Taiwan's semiconductor industry.

  • South Korea's proactive investment plans illustrate its dedication to maintaining a competitive edge in semiconductor innovation and its adaptability to global industry challenges.

Summary based on 25 sources


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