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South Korea will invest 125.3 billion won this year to support the development of neural processors, high-performance and low-powered logic chips specializing in artificial intelligence (AI) services, up 75 percent from last year.
This year, South Korea's ICT ministry aims to support developing four AI chips while fostering 270 specialists in the sector.
The ministry added that it had earmarked 108.4 billion won for developing core technologies and 7.7 billion won for fostering top new companies in the sector.
South Korea made inroads in neural chip development last year, with mobile carrier SK Telecom Co. unveiling an AI chip for data centers.
The South Korean government plans to spend 1 trillion won until 2029 for developing next-generation chip technology, eyeing to get a 20 percent share of the global AI chip market by 2030.
