South Korea Reaches Unprecedented Levels of Deep Tech and AI Investment in 2024
Seoul, Monday, 2 June 2025.
South Korea’s investment in deep tech hit a record 3.6 trillion KRW in 2024, reflecting a robust focus on AI and bio-healthcare, with startups spearheading AI advancements.
Pioneering Startups in AI Expansion
South Korea’s impressive investment in deep tech is markedly led by innovative startups focusing on generative AI and voice automation technologies. Mednaath, originally founded in India by CEO Nitish Kumar, expanded to South Korea in 2024, playing a significant role in automating contact centers with AI virtual assistants. These AI systems are enhancing multilingual customer service by integrating advanced speech recognition with natural language processing, supporting over 120 languages [1].
AI’s Economic Impact and Government Role
The South Korean government has recognized the transformative potential of AI, dedicating significant resources to its development. In 2024 alone, the government funded 445 AI-driven projects with a budget of 478.7 billion KRW, representing a 2.5-fold increase from the previous year [2]. These investments aim to utilize AI in various industrial applications, such as autonomous vehicles, bio-health, and industrial robotics, reflecting a comprehensive strategy to enhance productivity and innovation across sectors [2].
Global Positioning and Strategic Partnerships
Despite the substantial investments, South Korea remains a latecomer in the global AI race compared to leaders like the U.S. and China. This realization has prompted both government and industry leaders to advocate for increased funding and strategic collaborations to bolster the country’s competitive edge. With the upcoming presidential elections, AI has emerged as a focal point of policy discourse, with candidates proposing even larger investments to close the gap with international tech giants [3].
Brabant and Beyond: The Asian Connection
Beyond AI, South Korea’s tech landscape is increasingly engaging with global partners, including the Netherlands. The synergy between Asian innovation hubs and European regions like Brabant fosters growth in semiconductor technology, high-tech systems, and bio-based industries. These collaborations are crucial in an era where technological sovereignty and cross-border R&D collaborations dictate market leadership [4].