In order to catch up with the trend of the times for artificial intelligence (AI) technology, Korea has announced a specific plan to rise to the No. 1 global manufacturer of AI memory chips.
In the announcement dated October 12, the Korean Ministry of Information and Communication Technology (ICT) said that the country set a target to develop 50 types of AI chips specialized in AI services by 2030.
To realize the aforementioned goal, Seoul plans to require the domestic technology industry to develop AI chips by 2022 and increase a contingent of 3,000 experts in the industry within the next 10 years.
With the plan set out, Korea aims to dominate 20% of the global AI chip market by 2030.
The ministry added that South Korea is preparing to raise 70 billion won from a domestic semiconductor fund formed in 2019, to support AI chip companies in research and development projects, as well as joint activities. joint venture and association to strengthen the Korean semiconductor manufacturing industry.
Earlier this year, Korea set out a plan to develop a next-generation chip with a plan to invest 1,000 billion won ($ 871 million) in the industry between now and 2029.
According to the Korea Information Society Development Institute, the AI chip market will grow rapidly as consumer demand for high-tech devices grows, expected to reach $ 117.9 billion in in 2030, compared with the limited figure of 18.5 billion USD in 2020.
The new AI services used in the self-driving car manufacturing industry are expected to boost the AI chip manufacturing industry to thrive.
For a long time, Korea has been known as one of the leading manufacturers of memory chips in the world, including Samsung Electronics Co. and SK hynix Inc. are the two main producers, accounting for 73.6% of the supply from Korea in the second quarter of 2020.
However, according to Gartner, which tracks the market, this number will drop 0.5% / year until 2024.
In July 2020, Samsung announced that by the end of this year, it would recruit 1,000 new experts in the field of chip design and AI.