Korea gives a $7.5bn nod to the metaverse and AI projects
(2022/01/26)
- Reference: 1643211127
- News link: https://www.theregister.co.uk/2022/01/26/korean_7bn_metaverse_bung/
- Source link:
South Korea's Ministry of Science and ICT (MIST) has earmarked ₩9 trillion ($7.5bn/ £5.55bn) for projects including AI and the development of a K-metaverse as part of its Digital New Deal programme.
"The Digital New Deal is a pan-ministry National Innovation Project that seeks to overcome the COVID-19 economic crisis through digitalization across the economy and society," said MIST in a [1]statement .
The New Deal was announced in July 2021 and includes $48.5bn to be spent on network infrastructure, AI development, and other technologies by 2025. The programme is expected to generate 900,000 jobs.
[2]
Of the earmarked $7.5bn, a hefty 20 per cent will go to projects the government refers to as "social overhead capital," which includes eventually implementing self-driving technology into 67 per cent of national roads so that they continuously exchange data with the vehicles as they drive themselves.
[3]
Roughly 65 per cent will go to data networks and AI projects like autonomous cars. Development of digital services, like home-based schooling and online medical appointments, will get 5.6 per cent. Almost 9 per cent will go to fostering the metaverse and cloud services.
[4]Microsoft revenue up by a fifth as world shuffles through the pandemic into the metaverse
[5]Meta says it's building world's largest AI supercomputer out of Nvidia, AMD chips
[6]Meta trains data2vec neural network to grok speech, images, text so it can 'understand the world'
[7]Nvidia CFO talks data centre opportunities, chip shortages
In February, ₩34 billion ($28.4m) will go to developing a Korean-styled metaverse platform with cultural content that no doubt will capitalise on the global phenomenon of exported Korean entertainment. The government is also behind some of the K-metaverse content, spending ₩16.8 billion of the budget to produce it.
Plans for the [8]K-metaverse were revealed last week. The government will foster 220 firms that already pull in decent sales volumes (₩5bn, $4.2m) and also create a metaverse academy of 40,000 industry experts by 2026.
Additionally, there will also be programmes for startups wanting to break into the technology and a metaverse Korean language institute to demonstrate the nation's art and culture to foreigners and tourists. ®
Get our [9]Tech Resources
[1] https://www.msit.go.kr/bbs/view.do?sCode=user&mId=113&mPid=112&pageIndex=2&bbsSeqNo=94&nttSeqNo=3181336&searchOpt=ALL&searchTxt=
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YfF@OiBF3IdsUlVWQXBsoQAAAJE&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44YfF@OiBF3IdsUlVWQXBsoQAAAJE&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://www.theregister.com/2022/01/26/microsoft_q2_2022/
[5] https://www.theregister.com/2022/01/25/meta_supercomputer_metaverse/
[6] https://www.theregister.com/2022/01/21/meta_data2vec_algorithm/
[7] https://www.theregister.com/2022/01/12/nvidia_cfo_data_center/
[8] https://www.msit.go.kr/bbs/view.do?sCode=user&mPid=112&mId=113&bbsSeqNo=94&nttSeqNo=3181303
[9] https://whitepapers.theregister.com/
"The Digital New Deal is a pan-ministry National Innovation Project that seeks to overcome the COVID-19 economic crisis through digitalization across the economy and society," said MIST in a [1]statement .
The New Deal was announced in July 2021 and includes $48.5bn to be spent on network infrastructure, AI development, and other technologies by 2025. The programme is expected to generate 900,000 jobs.
[2]
Of the earmarked $7.5bn, a hefty 20 per cent will go to projects the government refers to as "social overhead capital," which includes eventually implementing self-driving technology into 67 per cent of national roads so that they continuously exchange data with the vehicles as they drive themselves.
[3]
Roughly 65 per cent will go to data networks and AI projects like autonomous cars. Development of digital services, like home-based schooling and online medical appointments, will get 5.6 per cent. Almost 9 per cent will go to fostering the metaverse and cloud services.
[4]Microsoft revenue up by a fifth as world shuffles through the pandemic into the metaverse
[5]Meta says it's building world's largest AI supercomputer out of Nvidia, AMD chips
[6]Meta trains data2vec neural network to grok speech, images, text so it can 'understand the world'
[7]Nvidia CFO talks data centre opportunities, chip shortages
In February, ₩34 billion ($28.4m) will go to developing a Korean-styled metaverse platform with cultural content that no doubt will capitalise on the global phenomenon of exported Korean entertainment. The government is also behind some of the K-metaverse content, spending ₩16.8 billion of the budget to produce it.
Plans for the [8]K-metaverse were revealed last week. The government will foster 220 firms that already pull in decent sales volumes (₩5bn, $4.2m) and also create a metaverse academy of 40,000 industry experts by 2026.
Additionally, there will also be programmes for startups wanting to break into the technology and a metaverse Korean language institute to demonstrate the nation's art and culture to foreigners and tourists. ®
Get our [9]Tech Resources
[1] https://www.msit.go.kr/bbs/view.do?sCode=user&mId=113&mPid=112&pageIndex=2&bbsSeqNo=94&nttSeqNo=3181336&searchOpt=ALL&searchTxt=
[2] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2YfF@OiBF3IdsUlVWQXBsoQAAAJE&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44YfF@OiBF3IdsUlVWQXBsoQAAAJE&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[4] https://www.theregister.com/2022/01/26/microsoft_q2_2022/
[5] https://www.theregister.com/2022/01/25/meta_supercomputer_metaverse/
[6] https://www.theregister.com/2022/01/21/meta_data2vec_algorithm/
[7] https://www.theregister.com/2022/01/12/nvidia_cfo_data_center/
[8] https://www.msit.go.kr/bbs/view.do?sCode=user&mPid=112&mId=113&bbsSeqNo=94&nttSeqNo=3181303
[9] https://whitepapers.theregister.com/