Vice Minister Gi: "Digital Manufacturing Revolution... Building AI Manufacturing Platform"

International Grain Supply Concerns... "Limited Impact on Han"

[Asia Economy Reporter Jang Sehee] Kim Yong-beom, First Vice Minister of the Ministry of Economy and Finance, announced, "We plan to establish the 'AI Manufacturing Platform (KAMP)' that supports the collection of data from manufacturing SMEs and the development of artificial intelligence (AI) solutions in a one-stop manner."

On the 27th, Vice Minister Kim held a meeting at the Korea Development Bank that served as a review of the innovation growth strategy, policy review, price-related vice ministerial meeting, and a check on the Korean New Deal. He stated, "By gathering technological infrastructure and experts, which individual companies find difficult to secure independently, in one place, we expect that SMEs will be able to realize smart factory levels comparable to large corporations."

He added, "By 2025, we will create 1,000 leading smart factory models combining 5th generation mobile communication (5G) and artificial intelligence, and 100 digital clusters." He also said, "Smart factories will spread early, and sharing and cooperation of manufacturing data between companies will become easier."

Regarding the unstable movements in the international grain supply and demand, Vice Minister Kim analyzed that the impact on the domestic market is limited.

He explained, "Rice is self-sufficient through domestic production, and sufficient quantities of wheat, soybeans, and corn needed until the first half of next year have been secured." However, he added, "Since weather conditions in major production areas such as South America are unfavorable and grain demand is expanding mainly in China, continuous monitoring is necessary."