South Korea Plans 4.7 Trillion Won Initiative for Advanced AI Model Development

South Korea has announced plans to launch a comprehensive program aimed at developing advanced artificial intelligence models. According to the Ministry of Science and ICT, the initiative, valued at 4.7 trillion won (approximately $3.2 billion USD), is slated to begin in March 2027.

The program's objective is to bolster South Korea's standing in the global competition for leading AI technologies. The government plans to combine state capital investments with private funding, focusing on computational chips, data, and talent. The goal is to create AI models that achieve world-leading performance.

An entity to lead the development will be selected through competitive bidding after the South Korean National Assembly reviews the 2027 fiscal budget in December. The chosen developer could be finalized as early as February 2027.

This new initiative is distinct from existing domestic AI model development projects. Current projects will proceed, with their final development teams selected during a third-phase review in February 2027. The government aims for active participation from startups, large corporations, universities, and researchers.