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.

Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In Tech News

Nigeria regulator says local Binance operations 'illegal'
More ‘charismatic’ AI can abuse trust but also help creativity
Opportunity or risk as sport races ahead with AI?
How to keep your data safe despite web browser security flaws
Meet the young Malaysian who’s built up a profitable empire on YouTube
Twitter to pay verified creators for ads in replies, Musk says
Tesla jumps as GM deal makes its charging network closer to US standard
The modern classics: Gaming consoles with retro charm
Exclusive-Russia's VTB may pull out of running for Yandex stake - CEO Kostin
Giving durability its due: How Zelda’s breakable weapons improve gameplay in Tears Of The Kingdom

Others Also Read