South Korea's Ministry of Science and ICT announced on Tuesday that the country intends to invest 10 trillion won ($6.7 billion) into the artificial intelligence (AI) sector this year via the National Growth Fund. This initiative is part of a broader strategy to foster the development of domestic companies comparable to U.S. tech giant NVIDIA.
The plan was disclosed during a meeting in Seoul between the Ministry of Science and ICT, the Financial Services Commission (FSC), and AI-related companies. The discussions focused on leveraging national funds to stimulate growth within the AI industry.
The South Korean government established the National Growth Fund in 2025. The fund is designed to invest a minimum of 150 trillion won from both public and private sources over a five-year period, with the goal of securing new growth engines for Asia's fourth-largest economy.
The government had previously announced the first batch of seven projects under this plan, which includes an initiative specifically aimed at nurturing a South Korean company similar to NVIDIA.
The Ministry of Science and ICT stated that it plans to continue working closely with the private sector and the Financial Services Commission to identify new project opportunities.
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