South Korea Plans to Develop 20 AI Unicorns by 2030

According to ChainCatcher citing Yonhap News Agency, South Korea’s Ministry of SMEs and Startups announced a strategy in Seoul on November 11 to develop 20 AI unicorns valued at more than 1 trillion won each and one AI decacorn valued at more than 10 trillion won by 2030. The ministry plans to select 50 AI startups annually as candidates and provide companies in the final stage with more than 10 billion won each for research and development and commercialization. South Korea also plans to build an integrated testing system connecting AI semiconductors, cloud services and other services, and expand government-first testing and procurement programs to the AI sector.