The government plans to inject around one trillion won in the next five years in research and development of artificial intelligence(AI) semiconductor and foster thousands of experts in the field. 

The Ministry of Science and ICT on Monday announced a set of measures to assist in the growth of the domestic AI semiconductor industry. 

Under the plan, one trillion and 20 billion won will be earmarked for research and development of AI semiconductor-related technologies in the course of five years while seven-thousand experts will be produced by including related degree programs created at several universities. 

The government will also launch international cooperation in the area, starting with a one billion won worth joint project with the U.S. this year. 

AI semiconductor is a rapidly growing field in the global system semiconductor market, in which South Korea only has a three percent market share. South Korea is leading the global memory semiconductor market with a whopping 56 percent share. 

According to a local think tank, AI semiconductor will grow significantly to account for 33 percent of the system semiconductor market worldwide by 2030.