Seoul: SiltaNews – News Desk
The government of the Republic of Korea has earmarked 65 billion won (US$45 million) this year to support research and development (R&D) projects of medium-sized enterprises, particularly those focused on artificial intelligence (AI) in manufacturing, the industry ministry said Monday.
The budget marks a 20% increase from the 54.8 billion won allocated for similar projects last year, according to the Ministry of Trade, Industry and Resources. Yonhap News Agency quoted the ministry as saying it will focus on supporting R&D projects related to AI transformation of the manufacturing sector, the government’s key policy agenda aimed at boosting the competitiveness of local companies in the AI era.
