President Lee Jaemyung: "To Establish $300 Million Fund in Singapore by 2030"

President Lee Attends Singapore AI Summit on the 2nd
Promises Joint Research and Ecosystem Activation Between the Two Countries

President Lee Jae-myung shakes hands with Singaporean Foreign Minister Vivian Balakrishnan after his speech at the Korea-Singapore AI Connect Summit held at a hotel in Singapore on the 2nd. Photo by Yonhap News

President Lee Jaemyung announced on March 2 (local time), "By 2030, we will establish a global mother fund worth 300 million US dollars in Singapore."

President Lee made this statement at the Korea-Singapore AI Connect Summit held in Singapore that afternoon. Regarding the fund, he emphasized, "It will serve as a primary driver to accelerate the global expansion of AI companies from both countries and to build an ecosystem for joint growth centered on innovation."

He also pledged support for "joint research" that transcends national borders, beginning next year. President Lee stated, "We will enable researchers from both countries to work closely together and focus on developing AI technologies to solve humanity's grand challenges," adding, "We will also support the dissemination of the advanced technologies developed through this effort into the global market."

President Lee further stated, "We will further activate the AI industry ecosystem through private sector-led cooperation," expressing his expectations that "the AI Alliance, which is being launched today, will serve as the starting point for an open innovation ecosystem where companies, universities, and startups share knowledge and resources and collaborate."

He added, "I believe this will provide a solid foundation where creative ideas can turn into reality and where young people can continuously challenge themselves and grow."

Regarding the relationship between Korea and Singapore, he explained, "We must move beyond simple technological exchange and further develop into a strategic industrial partnership."

President Lee affirmed, "By pioneering new markets based on artificial intelligence and creating broader and more abundant opportunities for young people, we will advance as a leading innovation hub in Asia," and pledged, "The Republic of Korea will be a strong supporter so that the young and talented individuals of both nations can freely take on challenges, exchange ideas, and shape the future together."

This content was produced with the assistance of AI translation services.