According to a report by Yonhap News Agency on March 17th, the Ministry of Science and ICT and the Financial Services Commission of South Korea held a meeting with the Korea Development Bank and representatives of domestic AI semiconductor enterprises on the 17th to jointly promote the "K-NVIDIA Incubation Project", planning to provide 50 trillion won to the AI semiconductor industry within five years.
The Ministry of Science, Technology and Communication released the "Leapfrog Development Strategy for the Artificial Intelligence Semiconductor Industry" on December 18th last year, presenting a roadmap for vigorously cultivating low-power and low-cost neural network processing units (Npus) in the short term and ensuring the medium and long-term competitiveness of the artificial intelligence semiconductor industry. According to the proposal, the Financial Committee selected seven large-scale projects of the first batch of the National Growth Fund, among which was the core task of the "K-NVIDIA Incubation Project".
The South Korean government will also invest in the entire value chain of the AI semiconductor industry ecosystem, with the goal of creating five AI semiconductor unicorn enterprises that can succeed in the international market and five small giants with leading technologies.
