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South Korea to launch 4.7 trillion won Frontier AI project
The South Korean Ministry of Science and ICT has announced a ‘two-track’ strategy for artificial intelligence development, combining the existing AI Foundation Model (AI-FM) project with a new, large-scale ‘Frontier AI’ initiative.
To address concerns that the new project might replace the current one, officials clarified that the AI-FM project will continue its scheduled evaluations. The third phase of the AI-FM project is set for February 2025, which will select two final teams to receive support through 2027. Current participants include SK Telecom, LG AI Research, and Upstage.
The new Frontier AI project aims to compete with global top-tier models and will involve a government investment of approximately 4.7 trillion won, sourced from the ‘Future Response Fund’. This initiative is designed to tackle the rapid pace of global AI advancement and the massive scale of international investment.
To prevent the project from being dominated solely by large corporations, the government is developing entry standards to ensure startups can participate. The Frontier AI project is expected to begin its public call for proposals following the approval of the next year's budget in December, with investment targets potentially being selected by February 2025.
Entities
LG AI Research · Ministry of Science and ICT · Ryu Je-myung · SK Telecom · Upstage
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The Ministry of Science and ICT will continue the existing AI Foundation Model (AI-FM) project as originally planned. www.hani.co.kr · www.newstomato.com
- [● 3 SOURCES] The AI-FM project will conduct its third evaluation in February 2025 to select two final teams. www.hani.co.kr · www.newstomato.com
- [● 3 SOURCES] A new ‘Frontier AI’ project will be launched to develop global top-tier AI models. www.hani.co.kr · www.newstomato.com
- [● 2 SOURCES] The government is designing entry standards to ensure startups can participate in the Frontier AI project. www.hani.co.kr · www.newstomato.com
- [● 3 SOURCES] The Frontier AI project involves a government investment of approximately 4.7 trillion won. www.hani.co.kr · www.newstomato.com
- [○ 1 SOURCE] The Frontier AI project will be funded using the ‘Future Response Fund’.
- [● 2 SOURCES] The Frontier AI project will allow participation from companies not involved in the existing AI-FM project. www.hani.co.kr · www.newstomato.com
- [● 3 SOURCES] The government aims to select investment targets for the Frontier AI project by February 2025. www.hani.co.kr · www.newstomato.com