Lee Eog-weon, chairperson of the Financial Services Commission (FSC), said on the 26th that the financial sector's "artificial intelligence (AI) great transition" will become the vanguard of Korea's new growth engines.
At a welcome address at the opening ceremony of Korea Fintech Week 2025 held at the aT Center in Yangjae, Seoul, that day, the chairperson said accordingly, "We will push bold digital finance innovation so finance can reflect everyone's preferences."
The chairperson said, "The government is also waging an all-out effort under the national vision of realizing an 'AI top 3 nation,'" and said it will create a 5 trillion won scale-up fund over the next five years to spur new investment. A 2 trillion won secondary fund will also be created to support smooth exits. A scale-up fund is a fund that invests growth capital in mid-to-late-stage ventures and small and midsize enterprises, and a secondary fund is a fund that acquires equity held by venture funds and others.
The chairperson explained that a 150 trillion won Public Growth Fund will be created to draw large-scale investment and secure future growth engines. The financial sector AI platform will also be built to support the development and validation of AI financial services.
Korea Fintech Week 2025, a global Fintech expo, runs for three days until the 28th. At the opening ceremony that day, more than 340 speakers from Korea and abroad attended, including the chairperson; Yoon Han-hong, chairperson of the National Assembly's Political Affairs Committee; Sopnendu Mohanty, GFTN CEO; and Kiran Kumar Kesavarapu, director of industry solutions and architecture for Google Cloud Asia-Pacific (APAC).