Uiwang: The government has announced plans to provide extensive policy support to bolster domestic artificial intelligence (AI) and robotics firms, aligning with its ambition to establish the nation as a leading global AI hub, stated Finance Minister Koo Yun-cheol.
According to Yonhap News Agency, the announcement was made during a meeting attended by leaders of AI, robotics, and automotive companies, alongside officials from relevant ministries and agencies. This gathering took place at the Hyundai Motor Group's Robotics Lab headquarters in Uiwang, just south of Seoul. The initiative is part of the government's strategy to engage with key industries following the Lee Jae Myung administration's unveiling of a five-year economic development blueprint. This plan highlights AI as a pivotal growth driver and outlines the vision for a "super-innovation economy," as reported by the Ministry of Economy and Finance.
Koo emphasized the rapid pace of technological change, asserting that the global economy is transitioning into an era characterized by survival of the fittest. He remarked, "The government will mobilize all available policy tools to fully support our companies so they can develop world-leading products and services in the fields of AI, robotics, and automobiles."
The meeting's participants concurred that sectors such as humanoid robots and autonomous vehicles represent future growth areas where South Korea holds a competitive advantage. This is attributed to the country's robust manufacturing base and infrastructure, which positions it favorably in the physical AI sector.