Singapore and South Korea have launched a significant artificial intelligence alliance. South Korea pledged to establish a US$300 million global fund in Singapore by 2030 to support joint AI development.
The initiative, announced at the Korea-Singapore AI Connect Summit, aims to drive collaboration between companies, universities, and startups from both nations.
Under the new framework, seven memorandums of understanding were adopted, focusing on joint AI research and business cooperation in areas like autonomous driving and public safety. This partnership is expected to help Korean AI companies expand into Southeast Asia by leveraging Singapore's infrastructure.
Singapore's Foreign Affairs Minister Vivian Balakrishnan emphasized the nation's role as a trusted hub for AI development and testing. Both countries will focus on developing trusted supply chains, formulating open global standards for AI, and ensuring system interoperability.