Market Chatter: South Korea Eyes KRW4.7 Trillion Investment in Homegrown AI Model

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Market Chatter: South Korea Eyes KRW4.7 Trillion Investment in Homegrown AI Model

MT Newswires Live09-09 12:56

South Korea is earmarking 4.7 trillion won for efforts to build a domestic artificial intelligence model comparable to leading global systems, Yonhap News reported Tuesday, citing government officials.

The financing will be channeled through a new independent fund and form part of the science ministry's proposed 9.4 trillion-won AI budget for 2027, the report said. The ministry has yet to finalize the project's specific plans.

The initiative comes as South Korea faces growing pressure to strengthen its domestic AI capabilities, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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