Sol. South Korea is planning to expand the private cloud industry. The Science Ministry said in a statement that South Korea will expand the private cloud computing industry to make itself stronger than others in the global artificial intelligence era.
The Ministry of Science and ICT has announced to promote local cloud companies by forming strategic partnerships with global organizations.
The partnership aims to double the size of the domestic cloud market to 10 trillion won (US$7.3 billion) from 2022 to 2027.
The ministry said South Korea's cloud technology is more than a year behind the technology of global leaders, Yonhap news agency reported. Apart from this, AI cloud infrastructure is also not yet developed in the country.
To promote the industry, the government is working on a plan to introduce private cloud systems in education, finance, defense and other public sectors.
The government wants to ease network separation regulation. It also wants to give tax benefits to AI and cloud companies.
An indigenous AI chip will also be developed which can be used in data centers and will also work towards setting up a national AI computing center with a capacity of more than 1 exaflop.
This would mean a supercomputer that could calculate at least one quintillion floating point operations per second.
An AI Innovation Fund will also be created to support the private cloud ecosystem, in which the government will invest 45 billion won over the next year. Apart from this, investment from private sector will also be encouraged.
According to the ministry, plans are also underway to open an AI Safety Research Institute under the South Korea Electronics and Telecommunications Research Institute.
With this scheme, the government will focus on the safe development and application of AI technology. Also, the government's focus will be towards promoting local AI companies at the global level.
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Image Credit: KhasKhabar.