[Photo by Kim Yoo-jin]
The South Korean government has announced plans to foster future growth engines in artificial intelligence (AI), supply chains, and green industries through the Economic Development Cooperation Fund (EDCF).
On June 10, the Ministry of Economy and Finance and the Export-Import Bank of Korea held an "EDCF Innovation Strategy Report Meeting" in Seoul, attended by over 200 representatives from domestic companies, related organizations, and academia.
The meeting aimed to share the future operational direction of the EDCF and proposed institutional improvements, allowing participants to engage in a Q&A session for further information.
During the meeting, the government emphasized its commitment to actively support the development of future industries in AI, culture, supply chains, and green sectors, as well as assist domestic companies in entering new overseas markets.
Kang Yoon-jin, Director of the Development Finance Bureau at the Ministry of Economy and Finance, stated in her welcoming remarks, "We plan to pay special attention to fostering future industries using the EDCF in AI, culture, supply chains, and green sectors, and we will strengthen diverse linkages with KSP, EIPP, and multilateral development bank trust fund projects."
The government is also pursuing institutional improvements to enhance the transparency and fairness of EDCF project procedures. This includes incorporating feedback from companies and related organizations from the project discovery stage, expanding the participation of private experts in key decision-making processes, and increasing information disclosure throughout the entire project lifecycle.
A Ministry official remarked, "This meeting served as an opportunity to share the new policy direction and innovative efforts of the EDCF with companies and related organizations. We plan to continue listening to and communicating with businesses in the field in collaboration with the Export-Import Bank."
On June 10, the Ministry of Economy and Finance and the Export-Import Bank of Korea held an "EDCF Innovation Strategy Report Meeting" in Seoul, attended by over 200 representatives from domestic companies, related organizations, and academia.
The meeting aimed to share the future operational direction of the EDCF and proposed institutional improvements, allowing participants to engage in a Q&A session for further information.
During the meeting, the government emphasized its commitment to actively support the development of future industries in AI, culture, supply chains, and green sectors, as well as assist domestic companies in entering new overseas markets.
Kang Yoon-jin, Director of the Development Finance Bureau at the Ministry of Economy and Finance, stated in her welcoming remarks, "We plan to pay special attention to fostering future industries using the EDCF in AI, culture, supply chains, and green sectors, and we will strengthen diverse linkages with KSP, EIPP, and multilateral development bank trust fund projects."
The government is also pursuing institutional improvements to enhance the transparency and fairness of EDCF project procedures. This includes incorporating feedback from companies and related organizations from the project discovery stage, expanding the participation of private experts in key decision-making processes, and increasing information disclosure throughout the entire project lifecycle.
A Ministry official remarked, "This meeting served as an opportunity to share the new policy direction and innovative efforts of the EDCF with companies and related organizations. We plan to continue listening to and communicating with businesses in the field in collaboration with the Export-Import Bank."
* This article has been translated by AI.
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