The number of patents held by Korean companies in the artificial intelligence (AI) segment hovered far below other major countries around the globe, underscoring a need to roll out more corporate-friendly policies for the sector.

According to the data compiled by the Hyundai Research Institute, Korea held 306 AI-related patents, which account for only 3 percent of the total number around the globe. The figure is only a 5 percent of the United States' number.  

The global market for the AI industry, estimated at $127 billion this year, is expected to reach $165 billion in 2017, the researcher said. The domestic market, estimated at 3.6 trillion won ($3.03 billion) for 2013, is also expected to reach 6.4 trillion won in 2017.

Industry watchers said Asia's fourth-largest economy needs to make stronger efforts to tap deeper into the segment, as the area is expected to be one of the most lucrative industries in the near future.

"In order to narrow the technology gap with advanced countries and better enter the AI market, there needs to be a pre-emptive investment in the public sector," the report said. (Yonhap)