AI TRENDS | South Korea Pledges $20 Million to ADB AI Project Fund

South Korea has pledged $20 million to an Asian Development Bank (ADB) trust fund supporting artificial intelligence development projects. According to Sina Finance, South Korea's Ministry of Economy and Finance said the pledge agreement for the Korea AI for Development Trust Fund was signed at the ministry's annual consultation meeting with the ADB in Seoul on Wednesday. The fund will support the operations of the Center for AI Innovation and Development, which is to be established in South Korea under an agreement reached by South Korea and the ADB in May this year. At the meeting, Vice Minister for International Economic Affairs Moon Ji-sung also briefed the ADB on South Korea's official development assistance policy and future direction. ADB Vice President Hae Kyong Yu, who oversees administration and corporate management, said the bank was willing to expand cooperation with South Korea in AI, digital transformation, private sector development, and climate change.