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Industry

Govt unveils \'K-Palantir\' strategy, targets five unicorns by 2030

South Korea\'s Ministry of SMEs and Startups, the Defence Ministry and the Korea Aerospace Administration said they will foster five new security companies valued at 1 trillion won or more and 50 innovation firms with sales of at least 100 billion won by 2030. The government plans to designate strategic areas such as drones, defence AI and semiconductors, space and cyber security. It will also revamp procurement, expand R&D funding and set up a Korea-style In-Q-Tel.

AI & Enterprise

Science ministry says K-AI models expand into specialised fields from cancer treatment to defence and chip design

South Korea\'s Ministry of Science and ICT said on Sunday domestically developed artificial intelligence models are spreading into high-risk, high-difficulty professional settings. It said applications are expanding to cancer treatment planning, autonomous welding in shipbuilding, defence and semiconductor design. LG AI Research is working with Vanderbilt University Medical Center on an AI system for cancer care. NC AI is introducing physical AI to Hanwha Ocean\'s shipyards, while SKT and the defence ministry are pursuing a defence-focused model.

AI & Enterprise

South Korea to spend 7.54 trillion won on AX Sprint to commercialise 229 AI products and services

The South Korean government will invest 7.54 trillion won to commercialise 229 artificial intelligence products and services aimed at labour shortages in farming, caregiving and industrial safety. The AX Sprint programme, overseen by the Office of Planning and Budget with 11 ministries involved, received 1,604 submissions across 246 projects. Most selected projects formed consortia with demand-side companies. Small firms made up 82.1 percent of selected companies.