S. Korea pledges US$20 mln to ADB fund for AI projects
SEOUL, Nov. 11 (Yonhap) -- South Korea has pledged to contribute US$20 million t...
Seoul, November 11 - The South Korean government has committed to providing a $20 million contribution to the Asian Development Bank (ADB) trust fund dedicated to advancing artificial intelligence (AI) projects, according to the finance ministry. This pledge was made during an annual consultation meeting between the Ministry of Finance and Economy and the ADB in Seoul.
The two organizations subsequently signed a contribution agreement for the Korea AI for Development Trust Fund. This fund is intended to support the operation of the Center for AI Innovation and Development, which is set to be established in South Korea following an agreement reached with the ADB in May. Deputy Minister for International Economic Affairs Moon Ji-sung informed the ADB about South Korea's official development assistance policies and directions during the meeting.
In response, ADB Vice President for Administration and Corporate Management Hae Kyong Yu expressed a willingness to enhance cooperation with South Korea in AI, digital transformation, private-sector development, and climate change, as reported by the ministry.
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Also reported by 1 other outlet
- S. Korea pledges $20 mil. to ADB fund for AI projects koreatimes.co.kr
