SEOUL — President Yoon Suk Yeol has committed to positioning South Korea as a leading nation in artificial intelligence (AI) technology, highlighting the strategic importance of AI chips in the semiconductor market. During a recent meeting focused on the chip industry, Yoon discussed the implications of a partial suspension of operations by Taiwan Semiconductor Manufacturing Co. due to an earthquake and the progress on a chip mega cluster in Gyeonggi Province.
According to Yonhap News Agency, South Korea's strengths in hardware and digital sectors, including AI models, place it in a unique position globally. The government plans to invest 9.4 trillion won in AI and AI chip development by 2027 and establish a 1.4 trillion-won fund to support AI chip companies. Amidst signs of recovery in the chip sector and ongoing international efforts to strengthen chip supply chains, Yoon emphasized the importance of readiness and proactive measures to safeguard against future challenges. Plans for a chip industrial complex in Yongin and the provision of necessary resources for a chip mega cluster in southern Gyeonggi were also reaffirmed.