By Akinsuroju Olubunmi
South Korea’s $7 billion AI investment to secure semiconductor leadership.
In a bid to maintain its global prominence in semiconductor technology, South Korea has unveiled a bold plan to invest $7 billion in artificial intelligence (AI) by 2027. President Yoon Suk Yeol announced on Tuesday that this massive investment aims to bolster the country’s position in cutting-edge semiconductor chips, crucial to its export-driven economy.
Semiconductors serve as the backbone of South Korea’s economic engine, with chip exports hitting a 21-month high in March, comprising nearly a fifth of total exports. President Yoon emphasized the fierce competition in the semiconductor industry, labeling it as both an industrial and national battleground.
The investment strategy entails allocating funds for research and development in AI chips, including artificial neural processing units (NPUs) and next-generation high-bandwidth memory chips. Additionally, South Korea plans to foster the growth of next-generation artificial general intelligence (AGI) and safety technologies.
President Yoon has set ambitious goals for South Korea to become a top player in AI technology, aiming for a 10% share or more of the global system semiconductor market by 2030. Drawing parallels to South Korea’s dominance in memory chips over the past three decades, Yoon envisions a new era where the nation leads in AI chip innovation.
Despite recent global uncertainties, such as the earthquake in Taiwan, a key semiconductor hub, South Korean companies have remained relatively unscathed. President Yoon emphasized the importance of preparedness for such events to ensure the stability of the semiconductor supply chain.
In summary, South Korea’s substantial investment in AI underscores its determination to retain leadership in semiconductor technology amid intensifying global competition.
Keyphrases: Semiconductor, Artificial Intelligence
South Korea’s $7 Billion AI Investment to Secure Semiconductor Leadership