South Korea Established AI Council

South Korea created an AI council, the body set to oversee the development of the technology. The country has detailed a hefty set of investment plans as it seeks to bring more tangible benefits to tackle social challenges including falling birth rates.

The Korean Ministry of Science and ICT explained the AI council would be chaired by Minister Lee Jong Ho and Yeom Jaeho, the president of Taejae University. Commissioners will be drawn from various sectors including the semiconductor industry along with a brace of other government ministries covering finance, trade, industry, and more.

Korea intends for the council to explore AI semiconductors, legal matters, and ethics and safety concerns. These are among 69 areas The Korea Times reported. The government plans to pump a total of KRW710.2 billion ($527.1 million) into all areas during 2024, as it seeks to tap a financial impact from AI which is predicted to hit KRW310 trillion a year by 2026.

Korea is also keen to explore how AI could more directly benefit society, for example by addressing low birth rates. It is also exploring how legal systems and ethics must be adapted to enable AI to thrive, along with seeking to promote domestic businesses in areas including semiconductors. The ICT minister said the action was needed due to the spread of generative AI and that his department sees itself as responsible for ensuring people can reap the benefits of the technology.