Sung Yun-mo Proposes Investment and Cooperation to Uber Air Taxi Company... Receives "Positive Consideration" Response

Minister Sung Yun-mo meets with Eric Allison, Head of Uber Elevate [Photo by Yonhap News]

[Asia Economy Reporter Kim Bo-kyung] Sung Yun-mo, Minister of Trade, Industry and Energy, met with Eric Allison, CEO of Uber Elevate, Uber's aviation taxi business unit, and proposed investment and cooperation including the establishment of a domestic R&D center. CEO Allison responded, "We are positively considering investment in Korea."

According to the Ministry of Trade, Industry and Energy on the 8th, Minister Sung attended CES, the world's largest ICT home appliance exhibition held in Las Vegas, USA, to check the innovative achievements of Korean companies.

This year's CES was held under the theme "Artificial Intelligence (AI) into Everyday Life," focusing on products and services that apply AI, the foundation technology of the 4th Industrial Revolution, to daily life.

At the event, Minister Sung met with Uber Elevate and Google to discuss new industry creation and ways to expand domestic cooperation. First, meeting with Eric Allison, CEO of Uber Elevate, Minister Sung said, "Korea has high technological capabilities in key flying car fields such as ICT, batteries, and lightweight materials, and offers various incentives for foreign companies' investments," proposing investment and cooperation including the establishment of a domestic R&D center.

In response, CEO Allison stated, "We highly appreciate Korea's future car technology, the public's interest in innovation, and the government's investment incentives," adding, "We are also positively considering investment in Korea."

[Image source=Yonhap News]

Minister Sung, who met with Scott Huffman, Vice President of Google (head of Google Assistant), highly evaluated Google's AI technology and exchanged opinions on the government's role in promoting AI.

Meanwhile, a record number of 353 Korean companies participated in various fields such as AI, 5G, Internet of Things (IoT), and healthcare. Among them, about 150 startups participated, showcasing the innovative achievements of Korean companies.

Especially this year, more than 180 Korean companies participated in the "Eureka Pavilion," where only innovative products released within one year are exhibited, marking an increase of over 60% compared to last year.

Minister Sung started by visiting the Small and Medium Venture Business Pavilion to experience the achievements of Korean companies, then visited the exhibition halls of Samsung, LG, SK, and Hyundai Motor Company to confirm the future of innovation and encourage company representatives.

Minister Sung expressed his determination to promote the "Industrial Intelligence Strategy," which integrates big data, networks, and AI technology across industries. He said, "The government will spare no support for fostering new industries and creating an innovation ecosystem so that our companies can lead innovation."

Minister Sung held a meeting with Korean companies representing CES participants, sharing CES technology trends and successful innovation cases, and discussing directions for promoting a manufacturing renaissance. Afterwards, he plans to move to San Francisco for investment attraction and cooperation activities with advanced American companies.

This content was produced with the assistance of AI translation services.