The South Korean government will invest 560 billion won in AI startup Upstage

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South Korean financial regulators said on Sunday that they have approved an investment of 560 billion won (about $380.6 million) in Upstage, a South Korea-based artificial intelligence (AI) startup, marking the second direct investment from the Korea National Growth Fund. The Financial Services Commission (FSC) said the decision was approved at a fund review committee meeting held on Thursday. Founded in 2020, Upstage is a unicorn startup with a valuation of more than 1 trillion won, focused on developing AI solutions and large language models (LLMs). After Rebellions, it is the second company to receive investment from this policy fund.

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