Ministry of SMEs and Startups shares AI policies with 20 APEC economies

Policies cover the AI transformation of manufacturing, education for small business owners and startup funds The ministry is also pursuing dedicated GPUs for SMEs and an integrated AI platform

The Ministry of SMEs and Startups introduced South Korea's artificial intelligence (AI) policies for small and midsize companies and startups to 20 member economies in the Asia-Pacific region.

The ministry said on the 5th that Mok Seung-hwan, head of its Startup, Venture and Innovation Office, attended the 32nd APEC Small and Medium Enterprises Ministerial Meeting in Guangzhou, China, on the 4th and presented Korea's AI policies for SMEs and startups.

The APEC Small and Medium Enterprises Ministerial Meeting brings together ministers responsible for small and midsize businesses from 21 economies in the Asia-Pacific region to discuss cooperation and key issues affecting SMEs. The meeting was held in Guangzhou this year after taking place in Jeju last September.

This year's meeting focused on three priorities under the theme “Innovation drives development, and cooperation creates prosperity”: science and technology innovation, strengthening digital and intelligent capabilities, and inclusive development.

Mok shared the government's AI policies for SMEs and startups, which are being pursued under the goal of making South Korea one of the world's three leading AI powers, during a session on strengthening digital and intelligent capabilities.

The Ministry of SMEs and Startups outlined four major policy initiatives.

First, to drive the AI transformation (AX) of manufacturing, the ministry plans to expand AI-powered smart factories and foster companies specializing in automating AI solutions.

To support the AI transformation of regional businesses and small business owners, the ministry will pursue regionwide AI transformation projects as well as AI training for small business owners.

To support AI startups, it plans to establish a deep-tech AI fund and secure dedicated graphics processing units (GPUs) for use by SMEs.

The ministry also plans to build an integrated AI platform and open public data to expand AI adoption among SMEs.

“It was a meaningful opportunity to discuss issues affecting SMEs and introduce Korea's AI policies for SMEs and startups at this APEC Small and Medium Enterprises Ministerial Meeting,” Mok said. “We plan to continue deepening and advancing this exchange and discussion while pursuing ways to expand mutual cooperation.”