It is reported that South Korea’s National Assembly’s Political Affairs Committee’s Legislative Review Subcommittee has advanced a bill titled “Amendment to the Korea Development Bank Act” to raise the Korea Development Bank’s capital ceiling by 50 percent, enabling greater financial support for the AI sector and other strategic industries. The bill also lays the groundwork for a 50 trillion won AI-focused fund, aligning with President Lee Jae Myung’s push to boost state financial support for the promotion of innovation amid increasing global competition.
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