Gov’t to invest 1 tln won in artificial intelligence

By Lee Chi-dong SEOUL, March 17 (Yonhap) — The South Korean government announced Thursday it would spend 1 trillion won (US$840 million) by 2020 to boost the artificial intelligence industry. It also plans to support the civilian-led establishment of a high-profile research center tasked with serving as a “pivot” of the nation’s research and development in the field. Six large local firms — Samsung and LG Electronics, SKT, KT, Naver and Hyundai Motor — have decided to join the initiative, according to the Ministry of Science, ICT and Future Planning. “Once the private companies set up the research institute, the government will provide financial support for core R&D projects,” the ministry said. The envisioned facility, tentatively named the Intelligence Information Technology Research Institute, will likely be located in Pankyo, just…

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