Invest KOREA

According to Pulse by Maeil Business News Korea,

South Korea is spending more than 1 trillion won ($840 billion) through 2029 to promote an ecosystem for AI chip as the government goes all-out to enhance AI power for national competitiveness.

The Ministry of Science and ICT pledged to up the budget for AI chips by 402.7 billion won for a total 1.01 trillion won until 2029 to expedite development and commercialization of next-generation chips for machine learning during a meeting with related businesses and academies on Wednesday.

The extra budget would go to development of PIM (processing in memory) semiconductors by 2028.

The government will back designs in neural processing unit (NPU) chips and promote packaging technology as well as environment for software for the chips.

As a part of its campaign, the government has arranged Saudi investment in AI-enabled health solution by startup Easycare Tech.

Timed with a state visit to President Moon Jae-in, the Saudi government on Tuesday signed a letter of intent (LOI) with Easycare Tech to purchase Doctor Answer, its AI-based medical service based on big data.

Doctor Answer consists of 21 medical service modules for eight major diseases, including cardiovascular diseases and breast cancer. It is currently used in 65 hospitals in Korea.

“The agreement with the Saudi government has great significance, as it proves the excellence of AI medical software developed by South Korean companies. We will do our best to help domestic technology firms lead the global AI medical service market,” said Lim Hye-sook, the science minister.



By Pulse

Copyrights Pulse by Maeil Business News Korea. All Rights Reserved.

Source: Pulse by Maeil Business News Korea (January 19, 2022)