According to the announcement made by the Ministry of Industry and Trade on Friday, South Korea’s objectives to improve the competitiveness of local sectors include having thirty percent of local businesses use artificial intelligence technology by the year 2030.
According to the Ministry of Trade, Industry and Energy, the aim represents a significant increase from the most recent projection, which stands at 1 percent.
“In a mid- to long-term perspective, (the government) plans to proactively find and foster future industries and seek a great transformation that can fundamentally revamp the country’s industrial system,” said the Minister of Industry, Lee Chang-yang. “This will be accomplished by proactively finding and fostering future industries.”
In addition, Lee said that the AI industry is the primary driver behind the “digital transformation” of local companies.
In more specific terms, the ministry of industry intends to assist in establishing connections between AI service providers and local firms, particularly manufacturers, in order to facilitate the creation of tailored solutions.
The Ministry of Industry intends to allot a total of 1 billion won (about $801,000) to five different initiatives by the year 2023. The scope of the program is scheduled to increase the next year in conjunction with the Ministry of Science and ICT.
According to the industry ministry, South Korea plans to promote at least 100 enterprises that deliver artificial intelligence solutions internationally by the year 2030.