Author: Tronserve admin
Saturday 24th July 2021 10:19 PM
Korean Govt to Spend $862 Mn in Next-Gen Chip Technology By 2029
The South Korean government will invest more than 1 trillion won ($861.7 million) over the next 10 years to accelerate the development of next-generation chip technology to cement its leadership in the overall semiconductor technology in the world.
The Ministry of Science and ICT and Ministry of Trade, Industry and Energy announced Sunday that they will pick organizations and companies by Feb. 28 who will receive the funding to conduct the projects. The ICT ministry will inject 488.0 billion won from 2020 to 2029 and the industry ministry will spend 521.6 billion won from 2020 to 2026.
First of all, the government will support chip design sector to develop neural processing unit (NPU), AI processors, high-speed interface and software and lightweight processors. The budget will also be spent on developing low-power and high-performing new semiconductor devices as well as equipment for producing under 10-nanometer chips. The business is the country’s first R&D project in five years that has been allocated more than 1 trillion won.
Industry minister Sung Yoon-mo said the ministry will help the country become a comprehensive semiconductor powerhouse by fully supporting next-generation semiconductor technology development and making the most of our strength as the world’s leading chip-making nation.
Science minister Choi Ki-young said the ministry will support to develop AI chips, nurture talent and encourage private sector investment to help the nation become the world’s leader in AI chip technology.