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Korea poured 19 billion USD into the chip industry

South Korea deployed a support package of 26 trillion won (19 billion USD) to increase the capacity of domestic chip companies, facing global competitive pressure.

The support package announced by President Yoon Suk Yeol on May 23, focuses on financial programs, research and development (R&D) initiatives as well as infrastructure support for designers, chip manufacturer, material supplier, according to Yonhap News .

The focus of the package is to create a 17 trillion won financial support program for infrastructure. In addition, Korea also pledged to invest 5 trillion won to nurture talent for R&D projects starting from 2025 to 2027, along with one trillion won for material manufacturing companies, medium and large enterprises. small.

Reuters quoted President Yoon Suk Yeol: "The semiconductor industry is an area where a comprehensive war is taking place between countries. Winning or losing depends on who can produce advanced semiconductors first."

In Korea, Samsung Electronics and SK hynix are the two leading semiconductor units, but mainly in the memory chip segment. In the field of contract chip manufacturing, they face strong competition from Taiwan's TSMC.

According to Industry Minister Ahn Duk-geun, South Korea wants to develop other areas besides memory chips, such as mobile processor chips, with the goal of increasing from the current 2% to 10% market share.

Meanwhile, President Yoon also called on government agencies to provide support measures for chip manufacturing businesses to narrow the gap with leading competitors in the world. He said that the new support package will benefit the entire semiconductor supply chain. As companies expand, people will benefit from high-quality jobs, thereby driving economic growth.

The support package is considered a strong move by Korea in competing with other countries in the chip field. In January, Mr. Yoon announced that he would "dedicate all resources to win the chip race". Previously, China, India and the US also deployed investment packages worth tens of billions of dollars to support the development of semiconductor chips in each country.

Korea strives to develop the space industry

This is the statement made by Korean President Yoon Suk Yeol at the launch event of " Korean Space Industry Cluster " held at Korea Aerospace Industries (KAI) in Sacheon City, South Gyeongsang Province, March 13.

The space industry cluster is a project to establish a "space industry triangle system" in which South Jeolla province will be a special zone for rocket development, South Gyeongsang province will be a special zone for satellites, and Daejeon city will be a special zone for rocket development. will be a special zone for fostering talents; to foster a space industry led by the private sector.

According to Mr. Yoon Suk Yeol's commitment, the Government will be responsible for building key infrastructure for the space industry that the private sector can hardly establish on its own, such as a space environment testing facility. In addition, the Government will double the size of the public-private investment fund for the space industry, established in 2023; Strong support for start-up businesses that can grow into global enterprises.

According to the space development roadmap, the government has outlined goals such as completing the Moon landing mission by 2032 and the Mars mission by 2045. The goal is to put Korea in group 5. the world's leading space technology powerhouse.

Korea has become the 7th country in the world to launch domestically produced spacecraft, but there is still a long way to go before the country successfully conquers the space field.

The special law on the establishment of the Korea Aeronautics and Space Administration (KASA) - an agency equivalent to the US Aeronautics and Space Administration (NASA) - was passed by the Korean National Assembly in its plenary session. January 9, 2024. The bill was approved 9 months after it was submitted by the Government in April 2023 and is expected to officially take effect around May 2024 at the earliest. KASA is expected to launch in Sacheon, Nam Kyungsang in May 2024 if everything goes well.

Artificial Intelligence: Seoul Summit adopts declaration

The two-day event follows the first Global AI Safety Summit held in the UK last November, where 28 countries and the European Union adopted the Bletchley Declaration - global guidance The first requirement for AI safety.

Called the "Seoul Declaration", this document was adopted during an online meeting of leaders at the Seoul AI Summit, co-chaired by Korean President Yoon Suk Yeol and British Prime Minister Rishi Sunak. . "We recognize that AI safety, innovation, and inclusiveness are interrelated goals, and that it is important to include these priorities in international discussions on AI governance," the statement said. important to address the broad range of opportunities and challenges that the design, development, deployment and use of AI presents."

The statement emphasized: "We recognize the importance of interoperability between AI governance frameworks in a risk-based approach to maximize the benefits and address the many risks from AI, to protect ensure the design, development, deployment and use of AI that is safe, secure and reliable."

The leaders' session was attended by leaders of the G7 countries - the US, Canada, France, Germany, Italy and Japan - as well as Singapore and Australia, along with representatives from the United Nations, the Cooperation Organization and Economic Development and the European Union. The meeting also brought together technology industry leaders, including Elon Musk - CEO of Tesla, SpaceX and startup xAI, Samsung Electronics Group Chairman Lee Jae-yong, as well as representatives from the companies globally, including ChatGPT founder OpenAI, Google, Microsoft, Meta and Naver - Korea's leading portal operator.

A session of ministers directly in charge of the technology sector will be held at the Korean Institute of Science and Technology to discuss actions to enhance AI safety and achieve sustainability and capabilities. recover.

Above are some of the latest technology news in the Korean that EDUTO has collected. Please follow EDUTO to updated with the latest news!

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