KOTEC Visits AI Technology Company to Discuss Customized Support Measures

On-site Meeting Held at Mayfarmsoft
"Establishing Systems to Foster the AI Industry... Supporting Growth"

The Korea Technology Finance Corporation (KOTEC) announced on the 26th that it held an on-site communication meeting on the 23rd at Mayfarmsoft, an artificial intelligence (AI) technology company located in Songpa-gu, Seoul.

The purpose of this meeting was to listen to the current issues and on-site opinions of the AI industry and to seek customized support measures for small and medium-sized venture companies. At the meeting, KOTEC listened to the various difficulties and policy suggestions experienced by AI technology companies in the process of research and development and commercialization.

Juseon Park, Executive Director of the Korea Technology Finance Corporation (left), is visiting AI technology company Mayfarmsoft to observe the research site. Korea Technology Finance Corporation

Based on the on-site feedback gathered during the meeting, KOTEC announced plans to establish new policies to foster the AI sector and to strengthen support so that domestic companies can secure technological competitiveness in the global AI leadership race.

Mayfarmsoft is a specialized technology company in the field of data analysis solutions utilizing AI algorithms. The company develops a smart crawling service that collects unstructured data in real time and provides it as smart data, a hybrid solution that combines AI-based chatbot and search functions, and deep learning-based text analysis technology.

KOTEC has highly evaluated Mayfarmsoft's innovative growth potential based on its AI technology, designating it as a venture company, and has actively supported its technology-based scale-up by providing linked support such as IP partnership guarantees through the valuation of the company's patents.

Yoonjung Min, CEO of Mayfarmsoft, said, "Thanks to KOTEC's proactive policy support since the early days of our founding, we were able to grow our AI-based technology business," and added, "I hope KOTEC will continue to expand customized support so that more small and medium-sized venture companies can secure AI technological competitiveness and successfully commercialize their businesses."

Juseon Park, Executive Director of KOTEC, stated, "We will establish policies to foster the AI industry by reflecting on-site feedback, and will provide comprehensive support so that small and medium-sized venture companies can secure technological superiority even amid fierce global competition."