South Korea Launches US$3.5 Billion Fund to Accelerate AI Chip Clusters and Boost Semiconductor Industry

South Korea has announced a 5 trillion won (approximately US$3.5 billion) fund aimed at accelerating the development of AI chip clusters. This initiative targets promising materials, parts, equipment firms, and fabless companies, as part of President Lee's broader semiconductor megaproject to expand production capacity and meet AI-driven demand.