Kim Byung-hwan, Deputy Minister of Economy and Finance, "Investing 1.2 Trillion Won in AI Budget Next Year"

6th Digital Economy Forum on the 6th

Kim Byung-hwan, Vice Minister of Strategy and Finance, is delivering the opening remarks at the 'Digital Economy Forum' held on the 6th at the Boco Hotel in Gangnam-gu, Seoul.

The government will invest more than 1.2 trillion won in the field of artificial intelligence (AI).

On the 6th, Kim Byung-hwan, First Vice Minister of the Ministry of Economy and Finance, attended the '6th Digital Economy Forum' held at Boco Seoul Gangnam in Gangnam-gu, Seoul, and said, "Next year, we will invest more than 1.2 trillion won in the development of AI technologies and services so that citizens can realize digital aspects in their daily lives, not only in specialized fields such as law and taxation but also in healthcare and caregiving." This is an increase of 15.8% compared to this year's budget.

Vice Minister Kim also emphasized, "We will revise related regulations, including copyright law, to eliminate obstacles to innovation."

He continued, "To leap forward as a leading digital nation, efforts must be made not only to foster industries but also to establish a free and fair digital order suitable for the new digital era," adding, "It is time for the government and the private sector to jointly consider ethical norms in the era of super-large-scale AI."

On the same day, Vice Minister Kim announced plans to expand the mother fund budget to 1 trillion won next year to revitalize ventures and startups, and to create a Startup Korea Fund exceeding 2 trillion won in scale together with the private sector.

He explained, "This government's role as a catalyst is ultimately to make the startup ecosystem private and market-centered," and added, "We are actively promoting tax support for private venture mother funds and regulatory improvements for corporate venture capital (CVC)."

The event was hosted by the Ministry of Economy and Finance and organized by the Korea Startup Forum to facilitate the exchange of opinions between public and private experts on the digital economy. Futurist Richard Yonck and Lee Hwal-seok, Chief Technology Officer (CTO) of the AI startup Upstage, delivered the keynote speeches.

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