South Korea to spend nearly US$7.5bil on digital New Deal in 2022

South Korea is investing in a big way into its digital economy, pumping in RM31.47bil to foster new tech industries related to the metaverse and AI. — AP Photo

South Korea said Wednesday it will invest 9tril won (RM31.47bil) this year as part of its digital New Deal program to foster new tech industries in areas related to the metaverse and artificial intelligence.

The New Deal was unveiled in 2020 with the aim of investing around 58tril won (RM202.99bil) in key digital technologies, namely network infrastructure and artificial intelligence, to create some 900,000 jobs by 2025, according to Yonhap news agency.