Invest KOREA

[Courtesy of The Ministry of Science and ICT]

According to Pulse by Maeil Business News Korea,

The South Korean government launched its AI Strategy High-Level Consultative Council, a government-civilian panel for artificial intelligence (AI) governance, on Thursday. Hopes are high that the move will help raise the country’s AI competitiveness from its current position of 6th in the world to third after the United States and China.

The Ministry of Science and ICT held the council’s first meeting on Thursday at the Federation of Korean Industries building in Yeouido, Seoul, and announced that it will invest a total of 710.2 billion won ($526.1 million) in 69 AI common tasks in 2024.

The AI Strategy High-Level Consultative Council will be co-chaired by Science and ICT Minister Lee Jong-ho and Taejae University President Yeom Jae-ho. A total of 23 members from the private sector and 7 officials from the government will participate in the council, which will have six subcommittees ? AI chips, research and development, law and institutions, ethics and safety, talent, and AI bio.

Corporate representatives include Kyung Kye-hyun, head of device solutions division at Samsung Electronics Co., Ryu Young-sang, president and chief executive officer (CEO) of SK telecom Co., Kim Young-shub, CEO of KT Corp., Choi Soo-yeon, CEO of Naver Corp., and Chung Shin-a, CEO of Kakao Corp.

According to an analysis conducted by the Science Ministry and global consulting firm Bain & Co., which was reported to the AI Council, it is estimated that the economic effect generated by the application of generative AI in all fields such as manufacturing, medical, and finance, will hit 310 trillion won in 2026.

The ministry will pursue projects in four major strategic areas with the goal of becoming one of the top three countries in the AI field: global leadership-level AI technological innovation, acceleration of AI transformation across manufacturing and services, leading AI introduction into people’s daily lives, and establishing a new digital order.

AI software for the diagnosis, treatment, and management of nine rare pediatric diseases and AI medical software to assist in the diagnosis of 12 severe diseases will be developed to improve public health. Support will also be provided for the development of AI-based digital medical devices for early prediction and management of autism spectrum disorders.

The government has also decided to develop super-large AI services for each field, including law, medicine, and psychological counseling, to integrate AI into all industries.



By Lee Dong-in, Jeong Ho-jun and Lee Eun-joo

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

Source: Pulse by Maeil Business News Korea (April 5, 2024)