South Korea has unveiled plans to invest around 1.2 trillion won (approximately $898 million) in 2024 to bolster its artificial intelligence (AI) industry. Prime Minister Han Duck-soo announced these intentions at a conference in Seoul, emphasizing a commitment to reduce regulatory barriers and enhance AI-powered services, particularly in areas like legislation and healthcare. The budget allocation for the AI sector represents a 15.8 percent increase from the previous year, with a specific focus on leveraging large language models like ChatGPT. The government aims to streamline regulations to support companies in developing AI technologies and services.

South Korea government allocated 265 billion won in January 2023 for a five-year project aimed at developing AI technologies for everyday use, including AI-based helper robots for the elderly living alone and the integration of AI in public healthcare, administrative, and legislative services.

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