On December 17, 2019, all ministries within the executive branch of the Korean government (including the Ministry of Science and ICT) jointly announced the “national strategy for artificial intelligence” (hereinafter “National AI Strategy”).
Artificial intelligence (“AI”) has brought innovative changes across all areas of technology, industries and the entire society in this era of the Fourth Industrial Revolution. The National AI Strategy calls for “100 action plans”, based on nine overarching strategies to be implemented across three areas.
Among the notable points of the strategy include the coverage on how to facilitate the use of AI by businesses (e.g., make the expansive data produced by all areas of the public sector available to the public as fully as possible through open access), and attempts to comprehensively convert or remove cumbersome regulations to create a more favorable environment for the development and use of AI and other new industries. Also, under the strategy, Asia's fourth largest economy plans to leverage its dominance in the global supply of memory chips, and invest over KRW 1 trillion (approx. USD 858 million) into the next-generation smart chips by 2030.
If implemented, these plans under the National AI Strategy will help generate upwards of KRW 455 trillion (approx. USD 389 billion) by 2030, and increase Korea's competitiveness and standard of living. As part of a parallel effort, the Korean government will also improve its regulatory and legal systems to stimulate greater AI innovation and use.
In order to make serious inroads into achieving the National AI Straetgy, it is expected that the major aspects will be reflected in each ministry’s 2020 business plan.
- Key Aspects
- Potential Impact / Why This Matters To You
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