S. Korea to invest over US$ 900 mil. to develop AI chips: Moon Updated: 2020-11-26 06:27:03 KST

President Moon believes the COVID-19 pandemic has shown South Korea’s potential in the AI sector.
During a meeting Wednesday with related companies to discuss a future vision for the industry, he vowed to speed up innovation.

We will develop AI semiconductors as the second DRAM memory chips. We drew up a development strategy for AI semiconductors last October, and will invest 1 trillion won (US$ 903 mil.) by 2029. We will make a road map to revamp AI-related laws and systems to improve regulations and help firms innovate.

AI chips are designed to process tasks more efficiently.
The government plans to expand the country’s AI-related workforce to 100-thousand through the Korean New Deal projects and build better infrastructure.
President Moon called for efforts to establish AI-related ethics standards, stressing the need to think about the importance of people-centered economic values.