Generative AI corporations XENON said on the 19th it appointed former Ministry of SMEs and Startups Vice Minister Kim Hak-do as an outside director.
XENON formally appointed the former Vice Minister as an outside director through an extraordinary shareholders meeting held on the 15th. The move is a strategic decision by XENON, which is preparing an initial public offering (IPO), to enhance management transparency and credibility and expand its business into key industries such as energy and manufacturing.
New outside director Kim Hak-do is a leading expert in industrial policy and support for small and midsize enterprises, having served as head of energy and resources policy at the Ministry of Trade, Industry and Energy, president of the Korea Institute for Advancement of Technolog (KIAT), Vice Minister at the Ministry of SMEs and Startups, and chairperson of the Korea SMEs and Startups Agency (KOSME). XENON expects Kim, based on an understanding of the public and private sectors and overall technology policy, to help expand the application of AI in the public sector and industry during the transition in industrial structures.
Centering on the financial industry, XENON has been expanding its business scope into national infrastructure sectors such as energy, power generation, and manufacturing, as well as the small and midsize and mid-tier corporations market, based on its accumulated Generative AI solution capabilities. Kim's addition is expected to create synergy by fleshing out the industry-specific AI transformation (AX) strategy and strengthening cooperation with the institutional sector and partnerships across industries.
XENON CEO Ko Seok-tae said, "Through this personnel move, we will strengthen preparations for the IPO and further solidify our management system so we can leap forward as a trusted AI partner across industries."