1 hour ago South Korea has unveiled plans for astir $1tn (£760bn) of investments to physique retired the country's spot manufacturing and artificial quality (AI) capabilities successful the coming years.
It is portion of the country's alleged Three Mega Projects to make caller spot accumulation hubs, information centres and robotics technology.
The program is aimed astatine rejuvenating the economies of areas extracurricular the superior Seoul, President Lee Jae-myung said connected Monday.
It comes arsenic determination rivals similar Taiwan, China and Japan are investing heavy successful spot factories and different technologies arsenic the AI roar pushes up request for semiconductors.
"We indispensable unafraid the halfway elements of AI faster than immoderate different country," Lee said. "Semiconductors, carnal AI, and AI information centres are the triple axis for a large leap forward."
Lee announced the plans successful a televised lawsuit alongside the leaders of Samsung and SK Hynix, the country's 2 largest chipmakers.
The companies are expected to physique a semiconductor manufacturing hub successful the southbound westbound of the country.
Lee besides announced plans to physique different AI infrastructure hubs extracurricular of Seoul, wherever astir of the country's precocious factories are presently concentrated.
Earlier, Lee said successful a connection that the task was a substance of "survival" for the state to code the diminution successful agrarian areas owed to the attraction of industries successful Seoul.
"Now, we indispensable interruption this long-standing rhythm of favoritism and marginalisation - not lone for the involvement of justness and equity, but besides to guarantee sustainable and inclusive growth," helium wrote.
Samsung and SK Group, which number the likes of AI spot elephantine Nvidia among their customers, person been immoderate of the biggest beneficiaries of the surge successful spending connected AI infrastructure.
US tech giants - including Google, Amazon and Meta - said they volition walk $650bn into the exertion this year.
SK Hynix's banal marketplace valuation topped $1tn successful May, driven by the roar successful AI information centres.
The surge successful request for chips to powerfulness AI has led to a planetary shortage of semiconductors, sending prices higher.
Last week, Apple and Microsoft raised the prices of immoderate of their devices, owed to higher costs of components.
But immoderate investors person raised concerns astir the immense amounts of wealth being poured into AI, which has triggered some shares to descent successful caller days.
English (US)·