[South Korea plans to launch a US$3.5 billion cutting-edge AI model development project next year] On October 6, South Korea’s Ministry of Science, Technology, Information and Communications stated that South Korea plans to launch a cutting-edge artificial intelligence model development project costing 4.7 trillion won (approximately US$3.5 billion) from March 2027, in order to occupy a place in the cutting-edge artificial intelligence competition. The department said it plans to select a lead developer through a public tender after Congress approves the 2027 budget in December, with the winning bidder likely to be announced as early as February. The government plans to combine state equity investment with private funding and pool computing chips, data and talent into the project. The project will be open to a variety of entities, including single companies, corporate alliances and special purpose entities, and hopes to allow start-ups, companies, universities and researchers to play a leading role.