Amcham presses Korea for forward-thinking AI regulations

Amcham Chairman & CEO James Kim speaks during the AI Accelerate Summit 2024 at the Conrad Seoul Hotel Thursday. [AMCHAM]

The American Chamber of Commerce in Korea (Amcham) brought AI and regulation specialists from major tech companies together with top policymakers to discuss how oversight of the relatively new technology should take shape in Korea in a forum on Thursday.

The establishment of a legal framework for the use of generative AI has been at the forefront of policy debates around the world as the technology penetrates a broad range of areas.

“We are witnessing a global embrace of generative AI and machine learning as businesses increasingly leverage these technologies to secure a prosperous future and stay competitive in the market,” said Amcham Chairman & CEO James Kim in his opening remarks for the AI Accelerate Summit 2024, which was held at the Conrad Seoul Hotel.

“Given Korea’s expanding global influence, we believe that now is the best time for Korea to position itself as a regional innovation hub in the Asia Pacific,” he said.

The government has allocated around 700 billion won ($528 million) to support the wider use of advanced AI systems.

“To secure world-class AI technology and foster global talent, we will launch new international joint research and cooperation in the field of AI and data and spend a total of 700 billion won to expand the use of AI in everyday life, industrial sites and public administration,” said Yeol Um, the artificial intelligence-based policy officer of the Ministry of Science and ICT.

Also present were AI and regulation specialists from IBM, LG CNS and GR Korea.

BY PARK EUN-JEE [park.eunjee@joongang.co.kr]