South Korea hosts World Bank Global AI and Digital Summit in Seoul

The World Bank and the South Korean government co-hosted the Global AI and Digital Summit in Seoul, bringing together approximately 900 participants from 160 countries. The summit focuses on leveraging artificial intelligence and digital technologies to drive productivity, create jobs, and expand growth opportunities for developing nations.

South Korean Deputy Prime Minister and Finance Minister Lee Hyoung-il announced that South Korea aims to serve as a partner for developing countries in their AI transitions. To support this, South Korea is working with six multilateral development banks to establish a global AI hub in the country, which would house various AI cooperation centers. This initiative seeks to realize a ‘global AI basic society’ where no nation or individual is excluded from technological benefits.

During the summit, Minister Lee also met with World Bank President Ajay Banga to discuss expanding cooperation in AI and nuclear energy. They explored using South Korea’s technological expertise to provide stable energy supplies and sustainable development tools for developing regions. The discussions emphasized ensuring that industrial progress translates into job opportunities for youth and inclusive economic growth.