S Korea-IDB ties
S. Korea, IDB discuss bilateral cooperation building on AI
SEOUL, May 21 (Yonhap) -- South Korea and the Inter-American Development Bank (IDB) agreed to seek closer cooperation in carrying out development projects in Latin America using artificial intelligence (AI) technologies, the finance ministry said Thursday.
During the meeting held in Seoul, the IDB said South Korea's support has made significant progress in improving infrastructure in the region while contributing to its digital innovation, according to the Ministry of Finance and Economy.
In response, the finance ministry said it will continue efforts to encourage more South Korean companies to expand into the region, especially in the digital and energy industries in Central and South America.
The finance ministry and the IDB vowed to bolster usage of AI technologies and make efforts to have more South Koreans work at the multilateral development bank.
The two sides also agreed to support more South Korean firms with AI capabilities entering the market through the Korea-Latin America Business Forum set to be held in Argentina in November.
This file photo provided by the Ministry of Finance and Economy shows its logo. (PHOTO NOT FOR SALE) (Yonhap)
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