The Ministry of SMEs and Startups said on the 4th (local time) that Mok Seung-hwan, Deputy Minister for Startup and Venture Innovation, attended the 32nd Asia-Pacific Economic Cooperation (APEC) Small and Medium Enterprises Ministers' Meeting held in Guangzhou, China, and introduced Korea's small and medium-sized enterprises and venture corporations artificial intelligence (AI) policy.
The APEC Small and Medium Enterprises Ministers' Meeting is a forum where minister-level officials in charge of small and medium-sized enterprises from 21 member economies in the Asia-Pacific region gather to discuss cooperation measures and key issues. After being held in Jeju in Sep. last year, it was held this year in Guangzhou, China.
At this meeting, under the theme "Innovation drives development, and cooperation delivers prosperity," participants discussed cooperation measures in three areas: science and technology innovation, strengthening digital and intelligent capabilities, and inclusive development.
Deputy Minister Mok presented on the topic "AI policy for Korea's small and medium-sized enterprises and venture corporations" during the session on strengthening digital and intelligent capabilities. Korea shared with the other 20 APEC member economies the major policies it is pursuing with the goal of leaping into the "top three AI powers."
The four core policies presented by the Ministry of SMEs and Startups (MSS) are composed of manufacturing, regions and small merchants, AI startups, and AI deployment and diffusion. To achieve an artificial intelligence transformation (AX) in manufacturing, the plan is to roll out AI-based smart factories and foster corporations specializing in AI solution automation, while for regions and small merchants, it will promote support for the great AI transition and related education.
To support the growth of AI startups, a deep-tech AI fund will be created and graphics processing units (GPUs) dedicated to small and medium-sized enterprises will be secured. It will also promote building an integrated platform to expand AI use by small and medium-sized enterprises and opening public data.
Mok Seung-hwan, Deputy Minister for Startup and Venture Innovation at the Ministry of SMEs and Startups (MSS), said, "It was a meaningful time to discuss issues related to small and medium-sized enterprises and to introduce Korea's small and medium-sized enterprises and venture corporations AI policy at this APEC Small and Medium Enterprises Ministers' Meeting," adding, "We plan to advance this exchange and discussion to pursue ways to cooperate mutually."