South Korea Launches Collaborative Digital Innovation Initiative with ASEAN

Key Takeaways

South Korea and ASEAN collaborate on a $30 million digital innovation project.
The initiative will last for five years, focusing on advanced computing and data infrastructure.
It aims to boost economic growth through digital transformation.
Human resources and AI solutions will also be developed.
Strong exports of ICT products were reported in December.

Seoul, Jan 16 (NationPress) - The science ministry announced on Thursday the initiation of a five-year collaborative project with the Association of Southeast Asian Nations (ASEAN), valued at $30 million, aiming to enhance digital innovation in the ASEAN region.

The Ministry of Science and ICT indicated that specifics regarding the project will be discussed during the upcoming two-day ASEAN Digital Ministers Meeting, which concludes on Friday.

This initiative aims to leverage South Korea's advanced digital technologies to support digital transformation and stimulate economic growth across ASEAN countries, as reported by the Yonhap news agency.

Specifically, the two parties will allocate a total of $30 million from their cooperation fund until 2029, focusing on establishing data and advanced computing infrastructure in the region.

The funding will also be directed towards enhancing human resources and developing artificial intelligence (AI) solutions.

“It is now essential for all nations to expedite their digital transformation to promote sustainable and innovative growth,” stated Second Vice Science Minister Kang Do-hyun in a press release.

Additionally, Kang, present at the ongoing conference, is scheduled to engage in a trilateral meeting with his counterparts from the United States and Japan to discuss cooperation in AI and other areas, as per the ministry's statements.

South Korea's exports of information and communication technology (ICT) products surged by 24 percent in December compared to the previous year, driven by strong sales of semiconductors.

The outbound shipments of ICT products reached $22.66 billion last month, up from $18.25 billion a year earlier, according to the Ministry of Science and ICT press release. The nation's ICT imports in December totaled $13.32 billion, resulting in a trade surplus of $9.33 billion in this sector.

By product category, semiconductor exports increased by 31.1 percent year-on-year, amounting to $14.51 billion due to heightened demand for AI-related chips.