Ministry of Science and ICT to Allocate 931.3 Bil. Won Over 7 Years for AGI Advancement
The race to develop artificial general intelligence (AGI) is heating up, with the South Korean government announcing a significant investment in this next-generation AI technology. On Jan. 24, the Ministry of Science and ICT revealed plans to allocate 931.3 billion won over the next seven years to advance AGI, a technology that promises to revolutionize the field of artificial intelligence by replicating human cognitive abilities. This initiative marks a strategic move to position South Korea at the forefront of global AI development.
AGI represents a significant leap from the current Narrow AI (ANI) systems, which are designed to perform specific tasks such as language translation or image recognition. Unlike ANI, AGI aims to achieve human-level understanding and application, allowing it to autonomously learn and adapt across a wide range of tasks. This capability has drawn international attention, with the U.S. Congress urging the federal government to include AGI development in an AI “Manhattan Project.” Companies like OpenAI are already engaging in preliminary AGI competition by developing AI agents capable of processing various forms of information, including chat, voice, and images.
The South Korean government’s investment will include 887.5 billion won from the national treasury and 43.8 billion won from private funds. The Ministry of Science and ICT has identified the AGI core fundamental technology development project as a target for a preliminary feasibility study, underscoring the importance of this initiative. The government aims to secure the second stage of AGI technology, as defined by the prestigious AI conference, ICLR, aligning its efforts with global research standards and trends.
Ryu Kwang-jun, head of the Office of Science, Technology and Innovation, emphasized the strategic importance of this investment, stating, “The mission of the Office of Science, Technology and Innovation this year is to make definite choices and focus on investments, and to fully transition to leading R&D.” He further added, “We will swiftly investigate the two projects selected for preliminary feasibility study to ensure timely execution and thoroughly review the entire project to maximize investment outcomes.”
In addition to the AGI project, the Ministry of Science and ICT will conduct a preliminary feasibility study for the “CCU Mega Project,” aimed at commercializing carbon capture and utilization technology. This initiative, with a proposed scale of 1.1392 trillion won, highlights the government’s broader commitment to addressing environmental challenges through technological innovation.
The development of AGI has far-reaching implications for the economy, labor market, and society. It could lead to significant changes in how work is performed, potentially displacing certain jobs while creating new opportunities. As countries like the U.S. and China continue to invest heavily in AI research, South Korea’s commitment to AGI development underscores its ambition to become a leader in this transformative technology. The outcome of these preliminary feasibility studies will be crucial in determining the future trajectory of AGI development in South Korea and its impact on the global AI landscape.
Kim Eun-Jin, South Korea Announces Major Investment in Artificial General Intelligence Development – Businesskorea, 24 January 2025