S. Korea's SKT To Form Joint AI Fund With Japanese, Taiwanese Telecom Operators

SEOUL, June 10 (NNN-Yonhap) -- South Korea's SK Telecom Co (SKT). said Wednesday it has joined hands with major telecommunications operators from Japan and Taiwan to form a joint fund for investments in next-generation artificial intelligence (AI) technologies, Yonhap News Agency reported.

SKT, Japan's NTT Inc. and Taiwan's Chunghwa Telecom Co. have agreed to establish Catalight Capital, a company that will manage a joint fund of around US$500 million created by the three firms, SKT said.

Investments will target promising start-ups in North America, Asia and Europe across the AI value chain, from cooling systems and AI chips to AI service applications.

Chip giant SK hynix Inc. is also preparing to participate, SKT added.

"We expect the fund will serve as an opportunity to connect the AI, ICT, semiconductor and network technology capabilities of East Asian countries, including South Korea and Japan, with the global innovation ecosystem," SKT said in a release.

--NNN-YONHAP