According to The Korea Times, on May 3, South Korea’s Financial Services Commission approved a 560 billion won (US$381 million) investment in AI startup Upstage. The funding marks the Korea National Growth Fund’s second direct investment. Upstage, founded in 2020, develops AI software and large language models and is valued at over 1 trillion won (US$680 million). The investment is part of a broader 150 trillion won (US$102 billion) public and private fund initiative over five years to support AI, biotech, and semiconductor startups.
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