Ministry of SMEs and Gwangju Metropolitan City Join Hands on 'Artificial Intelligence'... 'AI Support Center' in Old District Office

Business Agreement for Fostering SMEs and Talent Development in the AI Sector

Minister Park Young-sun of the Ministry of SMEs and Startups (left) and Mayor Lee Yong-seop of Gwangju Metropolitan City are posing for a commemorative photo at the 'AI Sector SMEs and Startups Development and Talent Nurturing' business agreement ceremony held on the 10th at the Ramada Hotel in Gwangju.

[Asia Economy Reporter Kim Daeseop] Plans are underway to utilize the old office building of the Gwangju-Jeonnam Regional Small and Medium Venture Business Administration as an Artificial Intelligence (AI) Support Center. The Ministry of SMEs and Startups, preparing for a major transition to an AI-based digital economy, is joining hands with Gwangju Metropolitan City, which is building an AI-centered city.

On the 10th, the Ministry of SMEs and Startups and Gwangju Metropolitan City signed a memorandum of understanding (MOU) on "Fostering SMEs and Startups and Talent Development in the AI Field." The signing ceremony, held at the Ramada Hotel in Gwangju, was attended by Park Young-sun, Minister of SMEs and Startups, and Lee Yong-seop, Mayor of Gwangju Metropolitan City.

Minister Park Young-sun stated, "The spread of AI to SMEs and startups is an effective way to prepare for the major transition to a digital economy accelerated after COVID-19," adding, "Through mutual cooperation between the Ministry of SMEs and Startups and Gwangju City, AI will become a growth engine for Gwangju's key industries."

This is the first time the Ministry of SMEs and Startups has signed an MOU with a local government to foster SMEs and startups in the AI field. Gwangju City declared its vision as an AI-centered city in January this year and plans to establish an AI industrial convergence cluster from this year through 2024.

On the 3rd, the Gwangju Metropolitan City AI Convergence District was designated as an economic free zone. Through the creation of an innovative ecosystem promoting the convergence of AI with regional key industries such as biomedical and future automobiles, it will be developed into a global hub for new industries.

The main contents of the MOU between the Ministry of SMEs and Startups and Gwangju Metropolitan City include ▲ dissemination and expansion of AI technology with SMEs ▲ support for AI model development for smart factories and talent cultivation ▲ fostering AI startups tailored to SMEs ▲ support for the establishment of AI investment funds for SMEs.

Through this agreement, SMEs will have a foundation for manufacturing innovation using AI, and the Gwangju region is expected to attract AI companies and fund investments by establishing an AI cluster utilizing data.

The old office building of the Gwangju-Jeonnam Regional Small and Medium Venture Business Administration, currently unused due to relocation, will be utilized as an AI Support Center. It will serve as a space supporting the creation of an AI ecosystem for startups and SMEs. The Gwangju-Jeonnam Regional Small and Medium Venture Business Administration relocated last November from the Nongsong-dong office in Seo-gu to the Narae-Keum Gwangju Integrated Office in Dongcheon-dong. The old office building consists of a main building with four floors and an annex with three floors.

Minister Park Young-sun also attended the AI Industry Forum held prior to the MOU signing ceremony. She gave a lecture titled "Smart Korea: A Major Transition to a Digital Economy" to about 130 participants, including representatives of SMEs in the Gwangju region and employees of related organizations.

Minister Park said, "Technologies leading to the digital economy have continuously evolved from computers to smartphones and cloud computing, and now the AI era has arrived. The major transition to an AI-based digital economy will be led by SMEs and startups. The Ministry of SMEs and Startups is preparing various policies such as manufacturing AI platforms, AI smart factory construction, and AI commercial district analysis for SMEs, startups, and small business owners."

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