Finance minister nominee vows to use AI to transform Korean economy

Koo Yun-cheol, the nominee for deputy prime minister and minister of economy and finance, emphasized the need to capitalize on artificial intelligence (AI)-driven transformation to foster new industries Tuesday, saying the “fate of Korea is at stake over AI and other advanced technologies.” “AI is not only essential to the competitiveness of individual industries, but also a critical foundation for enhancing productivity across the economy in the long term,” Koo said in a written answer submitted to the National Assembly for his confirmation hearing scheduled Thursday. “Therefore, it is necessary to build a robust AI industrial ecosystem through large-scale infrastructure investment, R&D (research and development) support, regulatory reform and other relevant efforts,” he added. Formerly a vice finance minister during the 2017-22 Moon Jae-in administration, Koo said the finance ministry has been passive toward widening support for these industries, an approach that should change. “With the global trade and industrial landscape changing rapidly, and major countries fiercelyWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times