The government of South Korea has allocated $4.4bn to a new innovation investment programme with a particular focus on AI and blockchain technology. In the first phase of this programme, which will run from 2018 until 2020, $200m was set aside for research into artificial intelligence (AI) and blockchain. It was announced by the country's finance minister Kim Dong-yeon, and will strengthen South Korea's focus on developing new technology and infrastructure in the areas of blockchain, big data and artificial intelligence. State-led companies are also investing up to $26bn in the sector, according to the ministry of finance.
The government of South Korea has allocated $4.4bn to a new innovation investment programme with a particular focus on AI and blockchain technology. The "Growth through Innovation" scheme will commence next year, and represents a 65% increase in spending on innovation compared with the current year. It was announced by the country's finance minister Kim Dong-yeon, and will strengthen South Korea's focus on developing new technology and infrastructure in the areas of blockchain, big data and artificial intelligence. State-led companies are also investing up to $26bn in the sector, according to the ministry of finance.