The Financial Services Commission said on the 1st that it will supply about 16 trillion won this year to six fields related to physical artificial intelligence (AI) — AI, robots, future mobility, defense, semiconductors, and secondary batteries.

Lee Eog-weon, chair of the Financial Services Commission, delivers remarks at the public-private joint roundtable for the National Captain Fund-M.AX Frontier Project hosted by the Ministry of Trade, Industry and Resources and the Financial Services Commission at the Korea Development Bank (KDB) headquarters in Yeongdeungpo-gu, Seoul, on the 1st. /Courtesy of News1

The Financial Services Commission and the Ministry of Trade, Industry and Resources held the "Public Growth Fund–M.AX Frontier Project public-private joint roundtable" at Korea Development Bank's main conference room in Yeouido, Seoul, on the 1st and discussed plans to identify and support promising leading corporations and projects. The M.AX Frontier Project is an industry-finance cooperation program that fosters leading corporations in fields such as robots, AI factories, and future mobility to pioneer the era of physical AI.

The Ministry of Trade and Industry (MOTI) will support AI transformation and technological innovation for manufacturing corporations through the M.AX Alliance, which brings together more than 1,500 companies, universities, research institutes, and institutions. The Financial Services Commission will back large-scale investment and scale-ups of promising leading corporations through the Public Growth Fund.

Lee Eog-weon, chair of the Financial Services Commission, said, "The Public Growth Fund will serve as a powerful implementation tool to make Korea's vision of becoming 'No. 1 in physical AI globally' a reality by priming the pump for private investment," adding, "With long-term and bold financial support in the physical AI institutional sector, we will lay the foundation for Korea to leap forward as an ultra-gap industrial powerhouse."

Kim Jung-kwan, Minister of the Ministry of Trade and Industry (MOTI), said, "Investments such as building M.AX infrastructure are not easy to decide even for large corporations, so I hope the Public Growth Fund will become a reliable ladder for growth," adding, "The Ministry of Trade and Industry will also mobilize all policy capabilities to support the expansion of M.AX and boost the investment impact of the Public Growth Fund."

※ This article has been translated by AI. Share your feedback here.