US President Joe Biden and South Korean President Yoon Suk Yeol tour a Samsung chip factory in 2022. SEOUL: South Korean President Yoon Suk Yeol said on Tuesday his country will invest 9.4 trillion won in artificial intelligence by 2027 as part of efforts to retain a leading global position in cutting-edge semiconductor chips.
Semiconductors are a key foundation of South Korea's export-driven economy. In March, chip exports reached their highest in 21 months at US$11.7 billion, or nearly a fifth of total exports shipped by Asia's fourth-largest economy. By earmarking investments and a fund, South Korea plans to significantly expand research and development in AI chips such as artificial neural processing units and next-generation high-bandwidth memory chips, the government said in a statement.
Yoon has set a target for South Korea to become one of the top three countries in AI technology including chips, and take a 10 per cent or more share of the global system semiconductor market by 2030.
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