South Korea's Ministry of Science and Technology: In the next 10 years, it will invest 1 trillion won to vigorously develop AI and 5G

In order to increase the development of the semiconductor industry, South Korean Finance Minister Hong Nam-ki stated in 2019 that 4.7 trillion won (about 27.6 billion yuan) will be invested next year to support the development of future industries, including data, 5G, artificial intelligence (AI), system semiconductors, biohealth and future automobiles.

Hong Nam-ki said that the South Korean government will invest 1.7 trillion won (about 10 billion yuan) in the fields of data, 5G, and artificial intelligence (AI) next year, and will invest 3 trillion won (about 17.6 billion yuan) in the fields of system semiconductors, biohealth, and future automobiles.

He stressed that the investment aims to promote the development of innovative industries and expand this development trend to other industrial fields.

In 2020, the South Korean Ministry of Science and Technology announced its work plan for 2020.

According to the plan, the South Korean Ministry of Science and Technology officially launched the "National Artificial Intelligence Strategy" this year, and will invest 1 trillion won (about 5.94 billion yuan) in the research and development of artificial intelligence (AI) semiconductor technology in the next 10 years.

The plan also includes investing 30 trillion won in 5G mobile communication technology in cooperation with private institutions within three years; establishing a 300 billion won AI-specific fund; expanding the number of AI computing support institutions from 200 last year to 800 this year; and spending 39.39 billion won within five years to build an AI cluster park in Gwangju.

The South Korean government has previously stated that it will fully open public data and provide all-round support for the development of AI start-ups, including relaxing regulations, improving laws, and establishing investment funds.

In terms of education, the South Korean government will add AI majors in colleges and universities, and incorporate software and AI-related education into the basic education curriculum of primary and secondary schools by 2022.