South Korean President Yoon Suk Yeol announces a $7B AI investment by 2027 for semiconductor dominance.
South Korean President Yoon Suk Yeol announced a $7B investment in AI by 2027 to preserve its global dominance in semiconductor chips. The investment includes a 1.4 trillion won fund to support AI semiconductor firms, and is part of South Korea's strategy to keep up with the US, China, and Japan, who are also investing heavily in their semiconductor supply chains. Semiconductors are vital to South Korea's export-driven economy, with chip exports reaching a 21-month high in March, nearly a fifth of the country's total exports.
April 09, 2024
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