The government pledges to provide full policy support for domestic AI and robotics companies

Humanoid robots will play dice games with visitors on Wednesday at Magok's first AI exposition in Gangseo district in western Seoul. [YONHAP]

The government is aiming to provide all the policy support available to domestic artificial intelligence (AI) and robotics companies, turning the country into a global AI powerhouse, Finance Minister Koo Yun-Cheol said Friday.

The Minister made pledges during meetings with heads of AI, robotics and automotive companies, as well as officials from related ministries at the headquarters of Hyundai Motor Group's Robotics Lab in Uiwang, Gayonggi.

The rally aims to highlight AI as a new growth engine, following the announcement of the five-year economic development blueprint of Lee Jae Myeong administration, and call it a “super-facing economy” according to the Ministry of Economy.

Koo said it's almost impossible to catch up with the fact that change is happening so quickly, and that the global economy is entering an era where only the winners survive.

“The government will mobilize all the policy tools available to fully support our companies and enable us to develop world-leading products and services in the fields of AI, robotics and automotive,” he said.

Participants also agreed that the physical AI sector, such as humanoid robots and self-driving vehicles, is a future growth industry in which South Korea is competitive thanks to its strong manufacturing base and infrastructure.

Yonghap