Seoul earmarks $2.0 bln to nurture AI and future industries

By Park Sae-jin Posted : August 10, 2016, 14:40 Updated : August 10, 2016, 14:40

[Courtesy of the presidential Blue House]


South Korea promised Wednesday to spend nearly two billion US dollars on nurturing artificial intelligence and eight other strategic sectors for future growth.

As next growth engines, a government panel, chaired by President Park Geun-hye, selected nine sectors including artificial intelligence (AI), self-driving cars, light materials, smart cities and virtual reality.

The sectors would get 2.2 trillion won (1.98 billion US dollars) in state and private funding for ten years. By 2026, the government hopes to set up about 1,000 AI-related entrepreneurs.

Aju News Lim Chang-won = cwlim34@ajunew.com
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