Ministry of Science and ICT to Support AI Vouchers Worth 42.5 Billion KRW... Leading Digital Transformation

Announcement of AI Voucher Project and Business Briefing on the 26th
KRW 42.5 Billion Scale... Up to KRW 200 Million Support for Selected Companies
"Helping Growth of Korean SMEs through Voucher Project"

The government is conducting the 'AI Voucher Support Project' worth 42.5 billion KRW to accelerate digital transformation using artificial intelligence (AI) and strengthen technological competitiveness.

On the 26th, the Ministry of Science and ICT announced the '2024 AI Voucher Support Project' and held a project briefing session at 2 p.m. at the Suwon Convention Center in Yeongtong-gu, Suwon-si, Gyeonggi-do.

The AI Voucher Support Project, introduced in 2020, aims to provide competitive domestic AI companies (supplier companies) with opportunities to grow by promoting their AI technologies, and to support digital transformation by introducing AI technologies to companies (demand companies) that need AI technology applications.

This year, about 200 tasks will be selected and supported with a budget of 42.5 billion KRW. In particular, linked with the 'National AI Everyday Implementation Plan,' which presents the vision of 'Korea as the world’s best user of AI,' the project will expand demand sectors by field and focus on supporting the overseas expansion of domestic AI technologies.

Tasks will be recruited in the form of public contests classified by demand sectors: ▲General ▲Medical ▲AI Semiconductor ▲Small Business ▲Global. Selected companies will receive vouchers worth up to 200 million KRW. The private burden for demand companies is at least 20% of the total project cost for small and medium enterprises and at least 30% for mid-sized companies, with support capped at 200 million KRW per company.

Supplier companies possessing AI solutions are recruited throughout the year, and demand companies select suitable supplier companies and AI solutions from the supplier pool and submit project proposals. Based on criteria such as the concreteness and feasibility of the plan, selected projects will receive AI vouchers.

Um Yeol, Director of AI-based Policy at the Ministry of Science and ICT, stated, "The era of AI everyday use has officially begun, and how well AI is utilized determines national competitiveness, making AI the core of global technological competition. We will actively support the growth of domestic SMEs with technological capabilities through the AI Voucher Support Project."

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