Korea Development Bank Signs 'Industrial AI Transformation' Agreement with KIAT... Supporting National Growth Fund and M.AX Alliance Settlement

Sangjin Park, President of Korea Development Bank:
"Cooperation Between Finance and Policy...
Supporting the Expansion of Growth Drivers"

Korea Development Bank announced on January 16 that it had signed a memorandum of understanding with the Korea Institute for Advancement of Technology, the secretariat of the M.AX Alliance, at the Korea Development Bank headquarters in Yeouido, Seoul, to support the AI transformation of the Korean industry.

Sangjin Park, President of Korea Development Bank (right), and Yoonjong Jeon, President of the Korea Institute for Advancement of Technology, are posing for a commemorative photo on the 16th at the Korea Development Bank headquarters in Yeouido, Seoul, after signing a memorandum of understanding to support the artificial intelligence (AI) transformation of the Korean industrial sector. Korea Development Bank

The M.AX Alliance is a public-private cooperative body organized under the Ministry of Trade, Industry and Energy to achieve the "Leap to the World's Leading Manufacturing AI Power by 2030" project. Participants include Hyundai Motor Company, LG Electronics, HL Mando, and Naver Cloud, among others.

The two organizations aim to enhance the competitiveness of Korea's manufacturing sector by promoting the adoption of AI in industrial sites.

Korea Development Bank expects that, by strengthening the connection between the National Growth Fund (finance), led by the bank, and the M.AX Alliance (technology and policy), the role of policy finance that companies can feel in the field will be further expanded.

Sangjin Park, President of Korea Development Bank, stated, "This is an important starting point for systematically supporting the industrial AI transformation through cooperation between finance and technology policy. As a policy financial institution, Korea Development Bank will continue to actively support innovation and the expansion of future growth drivers for Korean industry through the National Growth Fund and other initiatives."

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