Korea Development Bank (KDB) Chairman Kang Seog-hoon (R) and Jason Kwon, chief strategy officer at OpenAI, are seen in this photo provided by KDB on Nov. 26, 2024. (Yonhap)
SEOUL, Nov. 26 (Korea Bizwire) – The state-run Korea Development Bank (KDB) signed an initial agreement Tuesday with U.S. artificial intelligence (AI) research firm OpenAI to jointly foster the growth of South Korea’s AI ecosystem, bank officials said.
Under the memorandum of understanding (MOU), the two sides will collaborate to boost the local AI ecosystem and facilitate the development of Korean language-based AI models, they added.
This marks OpenAI’s first MOU with any South Korean entity.
“The sophistication of the AI industry will be the gauge of national competitiveness from now on, and KDB will work as a government affairs coordinator for OpenAI to help the company operate in South Korea,” KDB Chairman Kang Seog-hoon said.
OpenAI’s chief strategy officer Jason Kwon said in a press release, South Korea is a leading country in the field of AI and the MOU agreement with KDB has been made under the “common” goal of the two sides to advance Seoul’s AI ecosystem.
(Yonhap)
