Since the unveiling of ChatGPT in November 2022, the world has been swept up in the generative AI craze. As Chey Tae-won (Chairman, SK Group) aptly put it, generative AI is now an “irresistible force” across all industries. Despite their lack of physical form, AI services like ChatGPT do not run on thin air. The sheer amount of data and algorithms they require necessitate complex hardware infrastructure, which takes up space and energy. As a result, competition is unfolding among global technology powerhouses over advanced chips, the essential building blocks of AI infrastructure. What sets these specialized chips apart from conventional ones? Which Korean players are competing in this emerging market? What are the opportunities and challenges for Korea? On August 27, 2024, the Chey Institute invited five experts to address these questions: Ahn Jung Ho (Professor, Seoul National University), Rhu Minsoo (Professor, KAIST), Seok Mingoo (Professor, Columbia University), Park Sunghyun (CEO, Rebellions), and Park Kyoung (Vice President, SK hynix).