South Korea Boosts Science & ICT Funding by 25% to $5.6B for AI Leadership

The budget, up 25.4 per cent from a year earlier, consists of 6.44 trillion won for science and technology and 1.68 trillion won for ICT, according to the Ministry of Science and ICT, reports Yonhap news agency.

The ministry said the expanded spending is intended to promote innovation-led growth amid global economic uncertainty and prolonged low growth, while advancing South Korea's push to become one of the world's top three artificial intelligence powers.

In the science and technology sector, the government will increase spending in future technologies such as biotechnology and quantum science, while strengthening core technologies to secure a competitive edge in key industries, including semiconductors and secondary batteries, it said.

In the ICT sector, the ministry said it will expand investment in AI-driven transformation, including the development of AI transformation engines and efforts to train highly skilled AI professionals.

Meanwhile, Science Minister Bae Kyung-hoon has condemned U.S. e-commerce giant Coupang Inc. for failing to faithfully cooperate with the government in an on-going investigation into its massive data leak.

The remarks come after Coupang, citing its own investigation, claimed the breach had only affected some 3,000 user accounts, instead of over 33.7 million it initially reported late last month.

Coupang argued its investigation had been conducted in close consultation, if not under supervision, of the government, but Seoul quickly rejected Coupang's claims, calling them a "unilateral" conclusion of a still ongoing investigation.

"Coupang says only 3,000 accounts were leaked and later deleted, but this is an extremely reckless remark," Bae said, noting that the company is directly quoting the suspect's testimony.

- IANS