South Korea Plans 4.7 Trillion Won Fund for Homegrown AI Model

According to The Korea Herald, South Korea's science ministry plans to invest 4.7 trillion won ($3.49 billion) in a project to develop a homegrown artificial intelligence model that would match global frontier models. Government officials said the ministry plans to set up an independent fund for the project, and that the money will be included in the 9.4 trillion-won AI budget proposed in its 2027 budget request. Exact details of the project have not yet been decided.