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Telecommunications & Media

Broadcast Media Telecommunications Commission sets 297.7 billion won budget, expanding AI and media sovereignty investment

South Korea’s Broadcast Media Telecommunications Commission has drafted a 2027 budget and fund management plan totalling 297.7 billion won, up 13.2 percent from a year earlier. It will focus spending on supporting sustainable development and innovation in the broadcasting and media ecosystem, building a safe and reliable digital environment, and strengthening public media sovereignty. The plan includes new funding for AI training data, transparency initiatives and expanded media education and accessibility.

Finance

MSIT seeks fund manager for 30 billion won virtual convergence fund

South Korea\'s Ministry of Science and ICT said on Monday it is recruiting a fund manager until May 6 for a 30 billion won virtual convergence fund. The fund will include 18 billion won in government money from reinvested returns and at least 12 billion won from private investors. The main investment targets are small and medium-sized firms with virtual convergence technologies such as XR, digital twins, AI and blockchain, with at least 60 percent of commitments allocated to such investments.