Jungjingong Establishes Cooperation System to Foster Promising AI Companies in Seoul

by Kim Chulhyun

Published 18 Apr.2023 15:04(KST)

Business Agreement with the Korea Artificial Intelligence Association on the 18th

Lee Byung-chul, Head of the Enterprise Support Headquarters at Jungjin Gong, and Kim Hyun-chul, President of the Korea Artificial Intelligence Association, are posing for a commemorative photo at the business agreement ceremony held on the morning of the 18th at the Korea Venture Investment Building in Seocho-gu, Seoul.

The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 18th that it has signed a 'Business Agreement to Support Corporate Innovation and Growth in the Artificial Intelligence (AI) Sector' with the Korea Artificial Intelligence Association (President Kim Hyun-chul, hereinafter referred to as the Association).

This agreement was promoted to foster promising leading companies in the AI sector, a future growth industry, by reflecting suggestions from the SBC National Participation Group. The AI sector is one of the key industries selected as one of Seoul City's four future growth industries.

The Korea Artificial Intelligence Association, established in June 2017, is the largest non-profit AI organization in Korea with about 1,000 member companies. It comprehensively supports the introduction of AI across all industries, including AI demand-supply matching, AI certification, digital talent development, and investment support.

Taking this agreement as an opportunity, the two organizations will actively utilize their expertise, infrastructure, and networks to establish a joint cooperation system to create an AI venture ecosystem and drive corporate innovation and growth. Going forward, they plan to focus on fostering promising leading companies intensively through various on-site programs such as joint discovery of excellent companies, customized linked support including policy funds, consulting, investment attraction, promotion, open innovation, and regulatory improvement meetings.

Lee Byung-chul, Head of Corporate Support at SBC, said, "This agreement will be a driving force in creating a venture ecosystem in the AI sector," adding, "SBC will play a key role in enabling small and medium venture companies engaged in future growth industries with growth potential to achieve innovative growth as unicorn companies."