- This blog contains the full transcript of a special address by Kim Minseok, Prime Minister of Republic of Korea, delivered at the World Economic Forum's Annual Meeting of the New Champions , or Summer Davos, in Dalian.
- Prime Minister Kim talked of his country's vision for a new growth through innovation and about the global challenges and opportunities posed by AI.
- He also stressed the importance of AI for all and how the Republic of Korea's Global AI Hub will play a role in bridging the global AI divide.
Good afternoon everyone. As was introduced, I'm Kim Minseok, Prime Minister of the Republic of Korea.
So back in 2000, at the Davos Forum, I was nominated as a Global Leader for Tomorrow. I vaguely remember because it was such a long time ago, and I'm not sure if I was indeed a global leader back then, but I am very honoured and pleased to be standing in front of you. And the prediction that Davos Forum made 26 years ago was very accurate.
It is indeed meaningful that I'm attending the Annual Meeting of the New Champions for the first time in 10 years as the Prime Minister of Republic of Korea. I like to thank the World Economic Forum for their invitation.
The name of the Davos summer forum is the Annual Meeting of the New Champions. Befitting its name, Summer Davos has developed into a platform where we seek new growth opportunities through innovation. This year, the event is being held under the theme of 'Innovating at Scale'. Yesterday and today here in Dailan, intense discussions were held on how to create more opportunities through advanced technological innovation like AI, and how to lead them to substantial and meaningful economic growth.
Today, I'd like to share with you Korea's vision: a new growth through innovation.
Today, the global economy is facing complex uncertainties involving nationalism, trade protectionism, supply chain instability and the climate crisis. So there are increasingly complex uncertainties.
At the same time, advancement in new technologies such as AI is presenting us with new opportunities on one hand, as well as serious challenges that did not exist before.
We will not be able to overcome these challenges and uncertainties by relying solely on past strategies.
Since taking office in June last year, the Lee Jae Myung administration of the Republic of Korea has been dedicated to innovating at scale to break through this era of grand transformation.
Since setting a world-leading innovative economy as one of the primary goals of the government, we have been boldly pushing for a fundamental transition in our economic paradigm.
The government has expanded its R&D budget to record high levels, to invest in basic science and fundamental technology development. We continue to encourage bold research and development without fear of failure, and create an ecosystem that allows results of R&D to be actually applied in the industry.
At the same time, we are proactively reforming regulations that may hold back the development of new industries.
AI is a key topic for economic and social innovation. The grand transformation triggered by artificial intelligence is upending our daily lives. Against this backdrop, the Korean Government launched the National AI Strategy Committee, directly under the president, in September last year.
We have also streamlined our institutional framework by enacting the world's second Basic Act on AI, we have established an institutional foundation.
While promoting AI transformation across the industry, we're also actively nurturing talent and innovative businesses.
Last year, we had the APEC Economic Leaders' Meeting in Gyeongju. There, the APEC AI Initiative was adopted as a summit level outcome under the leadership of the Korean government.
Of course, rapid technological advancement can have problems. In other words, it can cast a dark shadow. The true fulfilment of innovating at scale is achieved through inclusive development, in which all members of society benefit without being left behind.
The Korean government, while promoting an innovation-driven economy, has made it a top priority to establish a framework that ensures the benefits of technology are distributed evenly across society, rather than concentrated in specific groups.
During the course of AI development, to prevent the deepening of imbalances such as the marginalization of the socially vulnerable, or the underdevelopment of specific regions, Korea is striving to realize an 'AI universal basic society' and 'balanced national development'.
Our efforts do not stop within Korea. We are working toward the goal of 'AI for all', to ensure that all global citizens can enjoy the benefits of AI.
As part of this effort, last May, in collaboration with international organizations, we officially announced plans to establish a Global AI Hub in Korea and, in order to attract the Global AI Hub to Korea, I visited the US and Switzerland and had met with the UN Secretary General, as well as heads of all of the agencies and we were able to finally lay the foundations to establish the Global AI Hub in Korea.
The hub will be an open platform involving diverse stakeholders, fostering free communication and innovation among various institutions, companies, research institutes and individuals. Under the slogan 'AI to Solve Global Challenges'. It will serve as a hub for addressing global issues through AI.
The crises facing the world today, such as infectious disease, climate change and food security, cannot be resolved by the efforts of individual nations or institutions alone.
Including the UN among other international organizations, multilateral development banks, governments, companies and universities will come together at the Global AI Hub to share knowledge and develop AI models and solutions to address these global challenges.
In this process, the Global AI Hub will also play a role in bridging the global AI divide. We intend to strengthen education, training and infrastructure support so that developing countries, SMEs and young talents can participate and share in the opportunities for innovation.
Ladies and gentlemen, Nvidia CEO Jensen Huang, who recently visited Korea, described Korea as a key partner in the AI ecosystem.
AI cannot be completed through algorithms alone. It requires the entire system that includes semiconductors, data centres, communication networks, power grids and other infrastructure, as well as AI applications and security systems.
In this regard, we possess unique strengths. With a world class semiconductor industry, advanced manufacturing capabilities, stable high quality power grid and ICT infrastructure, and a dynamic industrial ecosystem, Korea has full stack AI capabilities and this is our country's core strength.
Building on these capabilities, Korea aims to expand global cooperation for innovation and create an environment where companies, investors and researchers can grow together, thereby contributing to humanity's prosperity through AI.
There is a saying, 'Riding the wind and breaking the waves.' ('Sing fung parang.') Humanity will not fear uncertainty, but will seize the opportunities presented by the tide of massive change to navigate the waves of our times.
When your bold challenges combine with Korea's capabilities, innovating at scale will usher in prosperity, at scale. And in that process, Korea will be with you. Once again, thank you all for joining us on this meaningful occasion.
Thank you very much.
The transcript has been lightly edited for clarity.
