<p>Seoul: South Korean President Yoon Suk Yeol said on Tuesday his country will invest 9.4 trillion won ($6.94 billion) in artificial intelligence by 2027 as part of efforts to retain a leading global position in cutting-edge semiconductor chips.</p>.<p>The announcement, which also includes a separate 1.4 trillion won fund to foster AI semiconductor firms, comes as South Korea tries to keep abreast with countries like the United States, <a href="https://www.deccanherald.com/technology/in-one-key-artificial-intelligence-metric-china-pulls-ahead-of-us-2949389">China</a> and Japan that are also giving massive policy support to strengthen semiconductor supply chains on their own turf.</p>.<p><a href="https://www.deccanherald.com/opinion/editorial/semiconductor-ambitions-get-a-boost-2928876">Semiconductors</a> are a key foundation of South Korea's export-driven economy. In March, chip exports reached their highest in 21 months at $11.7 billion, or nearly a fifth of total exports shipped by Asia's fourth-largest economy.</p>.AI could have a surprising effect on interest rates.<p>"Current competition in semiconductors is an industrial war and an all-out war between nations," Yoon told a meeting of policymakers and chip industry executives on Tuesday.</p>.<p>By earmarking investments and a fund, South Korea plans to significantly expand research and development in AI chips such as artificial neural processing units (NPUs) and next-generation high-bandwidth memory chips, the government said in a statement.</p>.<p>South Korean authorities will also promote the development of next-generation artificial general intelligence (AGI) and safety technologies that go beyond existing models.</p>.<p>Yoon has set a target for South Korea to become one of the top three countries in AI technology including chips, and take a 10 per cent or more share of the global system semiconductor market by 2030.</p>.<p>"Just as we have dominated the world with memory chips for the past 30 years, we will write a new semiconductor myth with AI chips in the next 30 years," Yoon said.</p>.<p>Yoon also noted that the impact of the recent earthquake in Taiwan, a global leader in semiconductors, on South Korean companies was limited as of now, but ordered thorough preparation in the event of uncertainties. </p>
<p>Seoul: South Korean President Yoon Suk Yeol said on Tuesday his country will invest 9.4 trillion won ($6.94 billion) in artificial intelligence by 2027 as part of efforts to retain a leading global position in cutting-edge semiconductor chips.</p>.<p>The announcement, which also includes a separate 1.4 trillion won fund to foster AI semiconductor firms, comes as South Korea tries to keep abreast with countries like the United States, <a href="https://www.deccanherald.com/technology/in-one-key-artificial-intelligence-metric-china-pulls-ahead-of-us-2949389">China</a> and Japan that are also giving massive policy support to strengthen semiconductor supply chains on their own turf.</p>.<p><a href="https://www.deccanherald.com/opinion/editorial/semiconductor-ambitions-get-a-boost-2928876">Semiconductors</a> are a key foundation of South Korea's export-driven economy. In March, chip exports reached their highest in 21 months at $11.7 billion, or nearly a fifth of total exports shipped by Asia's fourth-largest economy.</p>.AI could have a surprising effect on interest rates.<p>"Current competition in semiconductors is an industrial war and an all-out war between nations," Yoon told a meeting of policymakers and chip industry executives on Tuesday.</p>.<p>By earmarking investments and a fund, South Korea plans to significantly expand research and development in AI chips such as artificial neural processing units (NPUs) and next-generation high-bandwidth memory chips, the government said in a statement.</p>.<p>South Korean authorities will also promote the development of next-generation artificial general intelligence (AGI) and safety technologies that go beyond existing models.</p>.<p>Yoon has set a target for South Korea to become one of the top three countries in AI technology including chips, and take a 10 per cent or more share of the global system semiconductor market by 2030.</p>.<p>"Just as we have dominated the world with memory chips for the past 30 years, we will write a new semiconductor myth with AI chips in the next 30 years," Yoon said.</p>.<p>Yoon also noted that the impact of the recent earthquake in Taiwan, a global leader in semiconductors, on South Korean companies was limited as of now, but ordered thorough preparation in the event of uncertainties. </p>