Institute for Information & Communications Technology Planning and Evaluation Invests 1.581 Trillion KRW in 6G, Metaverse, and Intelligent Semiconductors

[Asia Economy Reporter Lim Hye-seon] The Institute for Information & Communications Technology Planning and Evaluation (IITP) will invest 1.581 trillion KRW this year in 5th generation (5G) mobile communications, 6G, quantum technology, metaverse, intelligent semiconductors, and more. This represents a 13.3% increase compared to last year (1.3956 trillion KRW).

IITP has allocated a budget exceeding 1 trillion KRW for the first time, with 1.0618 trillion KRW dedicated to technology development (R&D). It will also invest 293.1 billion KRW in talent cultivation and 226.1 billion KRW in infrastructure establishment and business operations.

On the 9th, at a New Year press briefing held at the Press Center in Jung-gu, Seoul, Jeon Seong-bae, president of IITP, stated, "The importance of information and communication technology is increasing in response to digital transformation, technological hegemony, and the global supply chain," adding, "We will focus on developing core technologies and cultivating talent for future growth such as 6G, satellite, and space technologies."

First, IITP will concentrate on developing core technologies to secure future information and communication technologies (ICT) such as metaverse, next-generation artificial intelligence (AI), PIM semiconductors, and 6G. At the same time, it plans to strengthen policy support functions including ICT supply chains, technology and industry trend analysis, as well as promote new projects and task planning systems for mid- to long-term and large-scale R&D. Support for carbon-neutral research and development (R&D), such as ICT energy efficiency improvements, and solutions to public and social issues using ICT in areas like security, public safety, and welfare enhancement will also be expanded.

Support will also be increased to secure digital innovation talent for the future. Various programs will be implemented to alleviate domestic talent shortages, including new projects such as metaverse specialized graduate schools and corporate membership software camps.

By expanding AI Innovation Hubs and university ICT research centers, IITP will nurture promising master's and doctoral-level ICT professionals and increase industry-tailored education linked with companies and regional university cooperation programs. Additionally, efforts will focus on securing software-specialized talent through initiatives like the Innovation Academy and the expansion of software-centered universities.

IITP will assist domestic companies in innovative growth and strengthening competitiveness. It will support technology commercialization through living labs and vouchers, and provide infrastructure required in cutting-edge ICT research fields such as digital open labs and non-face-to-face physical security service platforms.

President Jeon Seong-bae said, "We will expand ICT R&D support to secure future ICT strategic fields such as AI and metaverse, and strengthen on-site communication with the mindset of being a facilitator of the ICT ecosystem."

This content was produced with the assistance of AI translation services.