Finance minister pledges support for global 'AI basic society'

Finance Minister Lee Hyoung-il pledged South Korea's support for the creation of a global AI basic society, ensuring no nation is left behind in the AI transformation. Speaking at the Global AI and Digital Summit, Lee highlighted how South Korea, once an aid recipient, has witnessed technology's transformative power on economies and lives.

The minister expressed South Korea's desire to partner with developing nations, leveraging our experience and capabilities in AI advancements. To achieve this, South Korea is collaborating with six multilateral development banks, such as the World Bank, to establish an AI hub in Seoul. This hub aims to ensure equitable access to AI benefits and realize a global AI basic society for all.

Earlier, Lee met with World Bank President Ajay Banga to explore sharing South Korea's AI expertise with developing nations. They discussed leveraging South Korea's nuclear energy technologies to secure stable power supplies and support sustainable growth. Both emphasized the importance of promoting inclusive industrial development that creates more job opportunities for young people.

The summit, co-hosted by the science ministry and the World Bank, attracted around 900 participants from 160 countries, making it the largest gathering since the event's inception in 2024.