New finance minister to lead Lee administration's AI initiative

Koo Yun-cheol, a nominee for the Minister of Economy and Finance, is expected to lead the Lee Jae Myung administration’s artificial intelligence (AI) initiatives and foster the technology as the nation's main growth engine, according to government officials Monday. Koo, a former top budget planner at the Ministry of Economy and Finance who later served as minister of the Office for Government Policy Coordination, will likely place top priority on the economic transformation powered by AI in fiscal, tax, finance and industry policies — the only viable breakthrough to counter the country’s declining growth rate amid rapid aging. According to the presidential committee for policy planning, the Ministry of Economy and Finance submitted a report on AI strategies last week. Central to the plan is an all-out AI transformation across economic, social and technological spheres. The government seeks to bolster investments in capital-intensive infrastructure including data centers and power grids, thereby slowing down the pace of total factor productivity. It measures how efficiently an econWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times