Seoul: Finance Minister Koo Yun-cheol on Thursday urged public institutions to take a leading role in transforming South Korea's economy through the adoption of artificial intelligence (AI), aiming to achieve what the government refers to as a "super-innovation economy."
According to Yonhap News Agency, this initiative aligns with the economic development blueprint set forth by the Lee Jae Myung administration. The five-year plan highlights AI as a fundamental driver of economic growth, with the private sector spearheading innovation, supported by comprehensive government policies focused on AI.
During a meeting with the heads of 31 major public institutions, Minister Koo emphasized the significance of this moment, stating, "Now is a crucial time to realize a super-innovation economy centered on AI." He called for concerted efforts from the institutions in areas such as administration and industrial safety to leverage South Korea's strengths in AI and manufacturing.
Since taking office in June, President Lee has committed to elevating South Korea to one of the world's top three AI powerhouses. The administration plans to invest 100 trillion won (US$71.5 billion) in AI development over the next five years.