Ministry of Science and ICT Allocates 892.5 Billion Won
Over 90% Related to Digital New Deal
[Asia Economy Reporter Seolgina Jo] The Ministry of Science and ICT will expand the construction of artificial intelligence (AI) training data, which has a significant job creation effect, and open it to startups and others. Projects that combine 5G and AI, such as a new infectious disease response system and the expansion of public Wi-Fi, which the public can directly experience, will also be launched in earnest. The goal is to accelerate economic innovation and create jobs through the so-called 'Digital New Deal.'
According to the Ministry of Science and ICT on the 3rd, the third supplementary budget bill to respond to the economic crisis after the novel coronavirus infection (COVID-19) includes a total of 26 projects worth 892.5 billion KRW under the ministry's jurisdiction, focusing on the Digital New Deal, K-quarantine, and private research and development (R&D) support.
More than 90% of the budget is allocated to the Digital New Deal, a major pillar of the 'Korean New Deal.' A total of 832.4 billion KRW has been allocated for ▲ strengthening the D.N.A (Data, Network, Artificial Intelligence) ecosystem (667.1 billion KRW) ▲ building digital inclusion and safety nets (140.7 billion KRW) ▲ fostering non-face-to-face services and industries (17.5 billion KRW) ▲ digitalization of SOC (7.1 billion KRW). Most of these projects open the door to data utilization and lead the convergence with AI and 5G in line with the entry into the Fourth Industrial Revolution era. The scale of the Digital New Deal projects under the Ministry of Science and ICT accounts for about 30% of the total 2.7 trillion KRW.
Jang Seok-young, the 2nd Vice Minister of the Ministry of Science and ICT, said at a briefing held at the Government Seoul Office this morning, "Due to the impact of COVID-19, the Fourth Industrial Revolution, such as non-face-to-face and digital transformation, is accelerating across our economy," and explained, "The Korean New Deal is to respond to non-face-to-face and digitalization and accelerate digital-based economic innovation."
To this end, the Ministry of Science and ICT is accelerating the use of data, which is the foundation of the digital economy. The budget allocated for AI training data essential for AI model development is 292.5 billion KRW, the largest single project unit. Additionally, 50 more centers linked to the big data platform will be established (40.5 billion KRW).
Furthermore, the Ministry of Science and ICT will invest 21.1 billion KRW in AI convergence projects (AI+X) focusing on medical and defense fields, such as medical imaging diagnosis and reading systems and new infectious disease response systems. The AI voucher program (56 billion KRW), which allows small and medium-sized enterprises to easily purchase and apply AI solutions, will expand its target from 14 companies to 214 companies. Also, 20 billion KRW will be poured into the production of VR and AR content, known as the 'flower of 5G.'
High-speed internet networks will be built in 650 rural fishing villages and remote areas (3.06 billion KRW), and high-performance Wi-Fi will be installed in 10,000 public places such as health centers and bus stops (32 billion KRW). Additionally, 19,000 outdated Wi-Fi units will be replaced with an investment of 19.8 billion KRW. A project to operate community centers as 'digital education centers' to allow anyone to easily receive digital education (60 billion KRW) will also be promoted.
Considering the increasing cybersecurity concerns related to remote education and telecommuting expanded after the COVID-19 outbreak, the Ministry of Science and ICT will establish a system (3.3 billion KRW) to remotely inspect users upon request. For small and medium-sized enterprises, which are relatively vulnerable to security, comprehensive consulting will be conducted, and related investments will be supported for 500 companies this year alone.
In addition, the ministry will develop new core ICT technologies necessary for implementing non-face-to-face business (17.51 billion KRW) and build a data dam (7.056 billion KRW) that integrates unmanned mobile robots, Internet of Things (IoT), and AI into aging underground joint ducts to enable real-time safety management.
Furthermore, supplementary budgets of 39.7 billion KRW and 20.4 billion KRW have been allocated for K-quarantine measures in preparation for the prolonged COVID-19 situation and private R&D support, respectively.
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