Science ministry, telecom giants join forces to boost AI competitiveness

The Ministry of Science and ICT, along with major telecom companies SK Telecom, KT and LG Uplus, are teaming up to accelerate innovation and strengthen Korea’s position in the global artificial intelligence (AI) race. On Tuesday, the ministry held a ceremony with the Korea IT Fund (KIF) to announce expanded public-private investment in the AI sector. KIF is a private fund founded in 2002 with a combined investment of 300 million won ($225,000) from the three companies. Its termination date was recently extended from 2030 to the end of 2040 and a new sub-fund focused on investment in AI was created. The event, attended by Science and ICT Minister Bae Kyung-hoon and executives from the three telecom companies, focused on outlining government and telecom company strategies to boost AI competitiveness, highlighting the growing role of private investment in determining national AI leadership. SK Telecom CEO Ryu Young-sang, KT CEO Kim Young-shub and LG Uplus Vice President Lee Chul-hoon met with the minister and discussed their visions for AI investment and measures for cooperation during thWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times