Regulatory Alerts2024-07-04 | 82608FSC Plans KRW3.5 Trillion Policy Finance Support to Promote AI Development
The Financial Services Commission approved a KRW3.5 trillion policy finance support package to accelerate the development of artificial intelligence technology and its ecosystem. Korea Development Bank will provide KRW3 trillion in low-interest loans with preferential rate reductions for key AI sectors and establish a KRW500 billion AI Korea Fund combining public and private capital. This initiative builds upon recent successes in semiconductor funding and aims to help promising AI firms expand operations while fostering sector-wide competition.
Share