South Korean President Yoon Suk Yeol announced a $6.94 billion investment in artificial intelligence by 2027 to maintain the country’s position in semiconductor chips. This investment includes a 1.4 trillion won fund to support AI semiconductor firms. South Korea aims to keep up with the US, China, and Japan in strengthening semiconductor supply chains. Semiconductors are crucial to South Korea’s export-driven economy, with chip exports reaching $11.7 billion in March. The country plans to expand research and development in AI chips, including neural processing units and high-bandwidth memory chips. Additionally, South Korea will focus on developing next-generation artificial general intelligence and safety technologies. President Yoon aims for South Korea to be a top three country in AI technology and capture over 10% of the global system semiconductor market by 2030. He emphasized the importance of AI chips and the need to prepare for potential disruptions, such as the recent earthquake in Taiwan.
