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South Korea secures $1.33 billion to urgently boost AI computing power

( May 2, 2025, 02:26 GMT | Official Statement) -- MLex Summary: South Korea’s parliament approved late yesterday a supplementary budget bill that grants the science ministry 1.91 trillion won ($1.33 billion) in extra funding to bolster the nation's artificial intelligence computing capabilities. The approved amount is slightly more than the 1.85 trillion won originally proposed by the government. The government plans to allocate 76 percent of the total to purchasing processors with a capacity equivalent to 10,000 high-end graphics processing units, which are critical components for developing, training, advancing and operating AI models. Additionally, the government aims to support the development of large language models capable of competing with those from global leaders, as well as the demonstration and commercialization of locally developed AI chips, according to the Ministry of Science and ICT. The statement, in Korean, is attached....

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