20 July 2021 | Tuesday | News
Since 2020, the Ministry of Science and ICT has actively implemented the Korean Digital New Deal as a means of overcoming the economic hardships caused by COVID-19.
The initiative focuses mainly on nurturing cutting-edge technologies, like artificial intelligence (AI) and big data, as future growth engines. The initiative's core objective is to ramp up the nation's digital capabilities that the government believes will accelerate digital transformation across many sectors.
Digital transformation now becomes a necessity as the pandemic has transformed the way people shop, work, learn, and socialize. By implementing the Digital New Deal, the country aims to advance key technologies that are required to meet growing demand in almost all economic sectors.
Among others, the ministry builds the so-called "Data Dam" to collect and integrate fragmented public data, especially from healthcare and education sectors that closely impact people's lives. By building an integrated data platform, the ministry intends to collect useful data which will be utilized to develop AI technology for education and healthcare.
The ministry also pursues an aggressive investment strategy in fostering startups armed with innovative ideas and technology. A select group of promising startups are offered government aid in enhancing their research and development (R&D) capabilities and bringing the resulting products and services to a broader market, both at home and abroad.