Lee Eok-won, the Chair of the Financial Services Commission, stated, "We will actively support companies in transforming their challenges into technological development, commercialization, and growth, making regional manufacturing sites key hubs for Physical AI."
Lee made these remarks during a speech at the 'Physical AI Regional Hub Development Forum' held at the Korea Development Bank headquarters on September 22. He emphasized that the role of finance is crucial in supporting bold investments by companies to ensure the rapid spread of Physical AI in actual industrial settings.
He highlighted that South Korea possesses world-class manufacturing competitiveness and production infrastructure, providing a favorable starting point in the competition for Physical AI. He explained that data accumulated in manufacturing, along with supply chains and production technologies, can be linked to Physical AI fields such as robotics, AI factories, and future vehicles.
Lee added, "If AI and robotics technologies are combined with regional strengths, each area can grow into a new industrial hub leading the development, demonstration, production, and commercialization of Physical AI technologies."
The event was organized to support the successful implementation of the government's 'Three Mega Projects for a Great Leap Forward in South Korea' and to foster an industrial ecosystem centered on regional hubs by combining the manufacturing base and Physical AI technologies in North Jeolla, North Gyeongsang, and South Gyeongsang provinces.
Local governments, policy finance institutions, and regional banks signed a Memorandum of Understanding (MOU) for the development of Physical AI regional hubs. The institutions agreed to collaborate to enhance industrial competitiveness and create related industrial ecosystems in their regions.
Baek Kyung-hoon, Deputy Minister of Science and ICT, stated in his speech, "The Ministry of Science and ICT will diligently prepare the foundation for securing world-class competitiveness in the Physical AI sector, from leading the development of core technologies to field demonstrations and ecosystem expansion, and will actively support the dissemination of these achievements throughout South Korea by linking them with regional industrial strengths."
* This article has been translated by AI.
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