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Korea to unveil detailed road map for growth strategies, including AI tech

Published: 20 Feb. 2023, 10:02 Updated: 20 Feb. 2023, 10:20

Finance Minister and Deputy Prime Minister for Economic Affairs Choo Kyung-ho speaks in a meeting with economy authorities at the government complex Sejong on Monday. [YONHAP]

Korea plans to unveil details of its new growth strategy for the chip and display sectors as well as emerging areas such as artificial intelligence (AI), the Finance Ministry said Monday.

Late last year, the country unveiled an economic development blueprint covering 15 projects ranging from space exploration to self-driving technology, dubbed "New Growth Strategy 4.0," in line with efforts to foster new growth engines.

"This year, we will flesh out details for each project and seek their full-fledged implementation. We will build grounds for the growth and generate visible results," the Ministry of Economy and Finance said in a statement.

In March, the country will announce a blueprint to foster the country's non-memory chip industry, as well as research and development strategies to beef up its semiconductor, rechargeable battery and display sectors.

Under the plan, the country will also focus on utilizing AI technologies to address issues affecting people's everyday lives in June.

The country will seek to develop a Korean equivalent of ChatGPT, a chatbot developed by U.S.-based OpenAI, by revising copyright laws to use various content in the process of developing a new software.

In 2023, the government also plans to raise what it calls a "content fund" under cooperation with the private sector to develop the "Korean equivalent of Disney," the Finance Ministry added.

Yonhap