Seoul: South Korea's SK Telecom Co. announced a strategic collaboration with leading telecommunication operators from Japan and Taiwan to create a joint fund aimed at investments in cutting-edge artificial intelligence (AI) technologies.

According to Yonhap News Agency, SKT, along with Japan's NTT Inc. and Taiwan's Chunghwa Telecom Co., has decided to launch Catalight Capital. This new entity will manage the approximately US$500 million fund established by the trio. The fund's primary focus will be on investing in promising startups across North America, Asia, and Europe, covering various segments of the AI value chain, including cooling systems, AI chips, and AI service applications.

In addition, SK Telecom noted that SK hynix Inc., a major player in the semiconductor industry, is also preparing to join the initiative. This collaboration is seen as a step towards integrating the AI, ICT, semiconductor, and network technology strengths of East Asian nations like South Korea and Japan with the broader global innovation ecosystem.