South Korea plans to develop $3.5 billion frontier AI model starting next year

SEOUL, Oct 6 (Reuters) – South Korea plans to launch a 4.7 trillion won ($3.5 billion) programme to develop a frontier AI model from March 2027, the science ministry said, as Seoul seeks to compete in the race to build cutting-edge artificial intelligence.

Here are some details:

• The Ministry of Science and ICT plans to select a lead developer through a competitive tender after parliament approves the 2027 budget in December, with the winner potentially chosen as early as February, it said.

• The government plans to combine state equity investment with private funding and concentrate computing chips, data and talent on the project, which aims to develop a model with leading performance.

• The ministry said the initiative would be separate from its home-grown foundation model programme, which will continue and select two final teams in a third-stage review in February 2027.

• Participation will be open to various entities including single companies, consortiums or special-purpose vehicles, it said, adding it aimed to allow startups, firms, universities and researchers to play leading roles.

($1 = 1,344.5000 won)

(Reporting by Joyce LeeEditing by Ed Davies)