South Korea Plans to Launch $3.5 Billion AI Model Development Project

The Ministry of Science and ICT of South Korea announced plans to launch a cutting-edge artificial intelligence model development project in March 2027, with a budget of 4.7 trillion won (approximately $3.5 billion), aimed at enhancing competitiveness in the advanced AI sector. The project will select a leading developer through public bidding after the National Assembly approves the 2027 budget in December, with the winning bidder possibly announced as early as February. The South Korean government will combine national equity investment with private funds to focus on computing chips, data, and talent. The project is open to various entities, including individual companies, business alliances, and special purpose entities, encouraging participation from startups, corporations, universities, and researchers.