South Korea Pledges $7.9 Billion for AI and Semiconductors, Aiming for Global Top Three
April 9, 2024
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
Get a daily email with more World News stories
Sources

Yahoo Finance • Apr 9, 2024
South Korea to invest $7 billion in AI in bid to retain edge in chips
U.S. News & World Report • Apr 9, 2024
South Korea to Invest $7 Billion in AI in Bid to Retain Edge in Chips
FRANCE 24 • Apr 9, 2024
South Korea to invest $7 billion in AI by 2027