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South Korean AI chip startups to get boost from industry, government

( May 20, 2025, 07:45 GMT | Official Statement) -- MLex Summary: LG Electronics, Hyundai Motor and other major South Korean manufacturers have agreed in principle to participate in a government-led initiative aimed at helping domestic fabless AI chip design startups develop and verify new chips optimized for on-device AI systems. Some domestic AI chip startups have successfully developed such chips but require large manufacturers to purchase and verify them before launching commercial marketing efforts, according to the Ministry of Trade, Industry and Energy. The ministry plans to begin the project, estimated to be worth about 1 trillion won ($718 million), in early 2026. The statement, in Korean, is attached....

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