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The state-run Export-Import Bank of Korea (Exim Bank) said on Wednesday that it will roll out a comprehensive financial support package next month to provide 20 trillion won ($13.6 billion) in funding to the artificial intelligence (AI) industry over the next five years.
T named the AX program, includes preferential interest rates for AI-related businesses, investment in advanced strategic industries and support measures for startups, according to the lender.
The bank also signed partnership agreements with three major AI-related companies — LS Electric, LG Innotek and HD Hyundai Robotics — to help foster the AI ecosystem and promote exports of relevant products.
Under the agreement, Exim Bank plans to offer tailored financial support for exports of AI-related products, such as AI chips, sensors and energy solutions, and provide export financing and research and development funding to small- and mid-sized partner firms participating in the three companies' overseas projects.
Yonhap
