The South Korean government is going to invest 4.7 trillion won strategically in order to achieve innovative growth next year. "We are planning to invest 1.7 trillion won in the 'DNA' fields such as Data, Network•5G, and AI (Artificial Intelligence), and 3 trillion won in the system semiconductor, bio-health, and future car sectors next year," said Deputy Prime Minister Hong Nam-ki at a strategic meeting for innovative growth.
As a first step, the government plans to expand investment into core infrastructures in 'DNA' fields such as data, network, and AI, which are central to innovation, and expand innovation to all industries through financial investment in the three new industries -- system semiconductor, bio-health and future car.
"We will introduce new AI voucher business that can be used by small and medium businesses when purchasing AI solutions and others and establish digital twin of old facilities in order to create 5G early market," said Deputy Premier Hong.
He explained, "We are planning to carry out new projects that can spread innovation to other industries such as hydrogen car and electric car battery technology development in order to enhance technological competitiveness of future vehicles, along with R&D of system semiconductor's entire cycle, establishment of test bed, and establishment of big data platform for medical data-oriented hospital."