The global AI market size was estimated at USD 150.2 billion in 2023 and is expected to grow at an average annual rate of 36.8% to reach USD 1,345.2 billion by the end of this decade. According to estimates, this segment in the Republic of Korea will grow from an estimated USD 1.9 billion in 2023 to a value of USD 3.3 billion by 2027. In the Global AI Index for 2023, South Korea ranked 6th overall out of all 62 countries assessed. In terms of patents (development), the country even ranked 3rd behind the US and China. The Korean administration is actively promoting this issue, as evidenced by the fact that AI has been selected as one of the six major innovation technologies in the "Digital Strategy of Korea" plan. Moreover, in April this year, the Presidential Advisory Committee on Science and Technology confirmed that the use of AI in the semiconductor industry is one of the three major technology initiatives that will receive even greater political and financial support.

Both the size of the AI market and its applications are expanding rapidly. Artificial intelligence is widely used in a wide range of fields - healthcare, cloud services, fintech, entertainment and even agricultural technology. There are a large number of players in this field in Korea, but the most important ones are Naver (and its HyperCLOVA), Kakao (AI KoGPT), Samsung Electronics (Samsung Gauss), LG AI Research Institute (EXAONE) or KT (Mi:dm). This is also a direction where Czech companies can look for new opportunities.

Over 260 companies from 13 countries showcased their latest products and services to nearly 40,000 visitors at this year's AI Expo Korea, whose motto this time was "Quantum Jump of AI". The main theme addressed at the expo this year was the convergence of AI technologies in various industries to improve work productivity. Developments in this technology are expected to rapidly change industries in various fields such as manufacturing, services and finance, and agriculture. It was to this end that the latest technologies in AI infrastructure were showcased at the fair - from domestic and overseas generative AI platforms to data centres and cloud services. Major companies such as SUPERMICRO, Xlllab, KAYTUS, PERSONA AI, MAUM AI were presented to the visitors.

Further important information on this field is available from the links below:  
1. Ministry of Science and ICT: https://www.msit.go.kr/eng/index.do
2. Korea Artificial Intelligence Association: https://www.koraia.org/default/
3. AI Expo Korea: http://www.aiexpo.co.kr/

AI Expo Korea 2024

If interested, Czech companies can contact the Commercial Department of the Czech Embassy in Seoul at: seoul.commerce@mzv.gov.cz.

Jakub Kopecký, Economic Specialist, Embassy of the Czech Republic in Seoul