S Korea with Singapore to create $300 mn global AI fund

Singapore: President Lee Jae Myung said on Monday that South Korea will push to create a global investment fund in Singapore by 2030 to attract investments worth $300 million in startups and the artificial intelligence (AI) sector.

Lee made the commitment during the AI Connect Summit in Singapore, where company and government officials and experts in the AI sector of both countries gathered to seek joint research and investment opportunities, reports Yonhap news agency.

"We are now in the midst of a massive civilisational transformation driven by AI," he said. "Amid these waves of change, it is inevitable that South Korea and Singapore, both of which possess world-class AI capabilities, join hands."

The South Korean president arrived here on Sunday for a state visit that included a bilateral summit with Singaporean Prime Minister Lawrence Wong.