Seoul starts initiative to double the data market, AI industry

2019.01.16 16:00:16 | 2019.01.16 16:00:34

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The Korean government will foster the data and artificial intelligence (AI) industry with a goal of becoming a leading country in the area by 2023.

Under a roadmap released by the science ministry on Wednesday, the government intends to jack up the value of the domestic data market from 14 trillion won ($12.5 billion) to 30 trillion won in 2023 and create 10 AI unicons whose corporate value exceeds $1 billion and groom 10,000 talents.

As part of its action plans, the government will establish 100 big data centers to facilitate data collection at finance and communication companies and establish 10 big data platforms to create new services based on the collected data.

The government will also provide support for developing AI technology-based services, focusing on basic AI research, intelligent semiconductor, quantum computing and software. It will also conduct a global AI 100 project to promote collaboration between domestic and foreign companies.

To encourage cross-functional work across data and AI technology fields, the government will create an integrated AI cluster where related research and business creation could be pursued with a comprehensive one-stop approach. The project worth 1 trillion won will be completed by 2029.

By Seo Jung-won and Minu Kim

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