SEOUL, Feb. 26 (Yonhap) -- The science ministry said Monday it will invest 121.9 billion won (US$91.5 million) to bolster the local cloud computing industry this year. <\/p>\n
The budget marked a 17.2 billion won increase from the previous year's allocation, according to the Ministry of Science and ICT. <\/p>\n
The ministry said cloud technology plays a key role in advancing artificial intelligence (AI) as it provides high performance computing capacity and massive data storage capabilities. <\/p>\n
In detail, the ministry plans to inject 24 billion won into the development and commercialization of innovative cloud services, 7 billion won into cloud-based software as a service (SaaS), and 8 billion won into the transformation of software to SaaS. <\/p>\n
Around 20 billion won is set aside to create an innovation fund for SaaS. <\/p>\n
\"We will foster cloud technology across industries and society and support the innovative growth of local cloud companies, including SaaS, in the era of AI sparked by Chat GPT,\" a science ministry official said. <\/p>\n
An image illustrating cloud computing technology (Yonhap) <\/p>\n
nyway@yna.co.kr<\/a> (END) <\/p>\n <\/p>\n See the rest here:<\/p>\n Science ministry to invest 121.9 bln won in cloud computing industry - Yonhap News Agency<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" SEOUL, Feb. 26 (Yonhap) -- The science ministry said Monday it will invest 121.9 billion won (US$91.5 million) to bolster the local cloud computing industry this year. The budget marked a 17.2 billion won increase from the previous year's allocation, according to the Ministry of Science and ICT Continue reading