South Korea proposes 4.7 trillion won ($3.49B) fund to build a homegrown frontier AI model
The South Korean government is proposing 4.7 trillion won (~$3.49 billion) in government-backed equity investments to develop a homegrown frontier AI model, included in the draft 2027 budget and subject to parliamentary approval. The plan creates an open competition (not guaranteeing extra funds for the current finalists LG AI Research, SK Telecom, and Upstage) and a second funding track to encourage adoption of Korean-built models across the economy; it comes amid larger private-sector deals with OpenAI and a major chip-production push.