[Pangyo Technology] South Korea's Tech Companies Gathered for Stronger AI Sector

    LOS ANGELES, CA, October 05, 2021 /24-7PressRelease/ -- Seoul held the first dialogue among key decision makers for AI sector on September 7th. The meeting for stronger AI sector of South Korea was participated by Samsung electronics, Naver, Kakao and three mobile carriers (SKT, KT and LG U Plus).

The meeting for public-private partnership was held by the Ministry of Science and ICT at COEX in Gangnam, Seoul. Naver CEO Han Seong-sook, Kakao CEO Yeo Min-soo, SKT CEO Park Jung-ho, KT CEO Koo Hyeon-mo, LG U Plus CEO Hwang hyeon-sik, Samsung electronics' director of global AI center Daniel Lee and other representatives of major companies, government and academic circles joined the event.

The meeting is to be held for every half year. It addressed ways for boosting a super-scale AI ecosystem in South Korea and will cover national-level future investment for the sector. The theme of the gathering includes other AI related subjects as well; for example, ways for utilizing existing technologies such as AI semiconductor and cloud service, public-private collaboration for nurturing talents and ways for promoting digital healthcare, robot and mobility service sectors.

The first theme of the day was ways for boosting a super-scale AI ecosystem which is emerged recently as new paradigm of AI field. Participants examined ways for helping SMEs and startups use other local companies' super-scale AI. They agreed to work together for collecting various data which will become a foundation of the super-scale AI.

South Korea's government said it will carry out new R&D project for identifying candidates of super-scale AI. The project will be linked with planned governmental projects of the Digital New Deal to give more research experience to local researchers.

Participants from local businesses pointed out the necessity of regulatory waivers for demonstrating of super-scale AI services and suggested ways of applying such exemptions. Participants from government said the government will review the suggestion and discuss it with relevant agencies for improving related systems.

The minster of science and ICT Lim Hye-sook said "the government will implement all it can based on today's discussion to support public-private cooperation for the advancement of South Korea's AI sector".

Pangyo Technovalley is an innovation hub for global companies comparable to the Silicon Valley in the US, Zhongguancun in China, and STATION F in France. It is an Asia tech hub with 1,259 IT, BT, CT, and NT companies that possess innovative products and technologies. Located just south of the metropolitan area, it provides the best environment for Korean companies to do business with great transportation access and infrastructure.

Various high-tech companies are located in Pangyo Technovalley, and it is occupied by 64,000 full-time employees, many in their 20-30s. In terms of industry, the companies are engaged in information technology, contents technology, biotechnology, and nanotechnology.

With the support of innovative companies with global capabilities such as Kakao, Naver, AhnLab, Krafton, NCSoft, Nexon, and Hancom, companies in Pangyo Technovalley recorded 107 trillion won in sales last year. Investment and infrastructure growth in Pangyo is expected to continue, with the Metaverse hub entering Pangyo this year.

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