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S. KOREA’S ICT MINISTRY TO INVEST $114.1 MILLION TO DEVELOP NEURAL PROCESSORS

Summary

Highlights – S. Korea’s ICT Ministry to invest $114.1 million to develop neural processors. Neural processing units are referred to high-performance and low-powered logic chips. The South Korean ICT ministry aims to support the development of four AI chips. Around […]

Highlights –

  • S. Korea’s ICT Ministry to invest $114.1 million to develop neural processors.
  • Neural processing units are referred to high-performance and low-powered logic chips.
  • The South Korean ICT ministry aims to support the development of four AI chips.
  • Around 7.7 billion won will be used to foster promising new companies.

South Korea’s ICT ministry on Tuesday announced that it will invest 125.3 billion won (US$114.1 million) this year to support the development of neural processors, up 75 percent from last year.

According to the Ministry of Science and ICT, neural processing units refer to high-performance and low-powered logic chips that specialize in artificial intelligence (AI) services.

Reports suggest that the government seem to have placed big bets last year on next-generation chip technology, including neural processors. It plans to spend 1 trillion won for their development until 2029 and carve out a 20 percent share of the global AI chip market by 2030.

The ministry has mentioned that in 2021 it aims to support the development of four AI chips and help foster 270 specialists in the sector.

It also added that the majority of this year’s investment will be around 108.4 billion won. The ministry will be spent on developing core technologies, while 7.7 billion won will be used to foster promising new companies in the sector.

The country made inroads into neural chip development last year, with top mobile carrier SK Telecom Co. releasing an AI chip for use in data centers.

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