Deputy Prime Minister and Finance and Economy Minister Lee Hyoung-il said Korea will expand its partnership with the World Bank to support artificial intelligence transitions in developing countries, offering them the country's AI technology and practical experience.
Speaking at the opening ceremony of the Global AI and Digital Summit at the Grand Hyatt Seoul in the capital's Yongsan District on the 20th, Lee said, "As Korea grew from a country that received international assistance into one that helps others develop, we experienced the power of technology to change an economy and people's lives." He added, "Drawing on Korea's experience and capabilities, we want to become a partner that joins developing countries in their AI transition."
The government plans to use the "K-AI Package," which bundles Korean AI technology and know-how, to identify joint projects tailored to the needs and conditions of individual developing countries. It expects the effort to help the World Bank meet its goal of giving 1 billion people access to digital services by 2030.
Korean technology is already being used in such projects. Before the opening ceremony, Lee reviewed progress on a program to expand and upgrade a pharmaceutical tracking system in East Africa, the first project approved for funding by the World Bank's Global AI and Digital Knowledge Center. The program extends a pharmaceutical tracking system built in Mozambique by a Korean company to neighboring countries and adds AI analytics to improve the detection of irregular transactions and forecasting of drug demand.
Lee also held a separate meeting the previous day with World Bank Group President Ajay Banga to discuss broader cooperation in AI and nuclear power. The two sides discussed making active use of Korea's AI innovation capabilities and experience in supporting developing countries, and drawing on Korea's nuclear plant development experience and technology to help those countries secure stable energy supplies and pursue sustainable development.
Now in its third year, the Global AI and Digital Summit is an annual event hosted by the World Bank. This is the first time it has been held outside Washington, D.C.