South Korea Plans to Nurture 20 AI Unicorns by 2030

According to Yonhap News Agency, the Ministry of SMEs and Startups released the 'AI Startup Beyond Unicorn Nurturing Strategy' in Seoul on November 11, proposing to nurture 20 AI unicorns valued above 1 trillion Korean won and one AI decacorn valued above 10 trillion Korean won by 2030. The ministry will select 50 AI startups annually as candidates and provide each company in final-stage projects with more than 10 billion Korean won in R&D and commercialization support. South Korea will also build a comprehensive demonstration system connecting AI semiconductors, cloud, and services, and expand the 'Government First Demonstration and Procurement' program, which positions government and public institutions as first customers, to the AI sector.

Source: TechFlow