India, South Korea can build 'great synergies' in AI, says FKI head

Federation of Korean Industries CEO Kim Chang Beom said South Korea, a top AI player, can build 'great synergies' with India's talent. Speaking at the India-Korea Business Forum, he highlighted new pacts in AI, EVs, and clean energy.

Synergy in AI and Technology

Pitching strong India-South Korea collaboration in emerging technologies, Kim Chang Beom, Vice Chairman and CEO of Federation of Korean Industries, on Monday said South Korea ranks among the top global players in artificial intelligence and can build "great synergies" with India's talent pool.

Speaking to ANI on the sidelines of the India-Korea Business Forum, Kim said, "AI-related tech startups are really booming up in Korea... Korea is... number three or four in the whole global competition." He added that India's strengths in human capital make it a natural partner in the sector. "Together with India's competitive edge, especially in human resources and tech-based education, I think both countries can bring about really great synergies," he said.

Expanding Strategic Partnership

The remarks came during the state visit of President of South Korea Lee Jae-myung, alongside a large-scale business forum jointly organised by the Federation of Korean Industries and the Federation of Indian Chambers of Commerce and Industry.

Calling the forum "unprecedented," Kim said, "Almost 600 people have attended... a very diverse composition of representation from both business communities that is illustrating the depths and the widths of the whole business partnership." He noted that the India-South Korea partnership is expanding rapidly across sectors. "The partnership that has been built on for the last three decades is now moving really very fast... to a higher notch," he said, adding that it is evolving into "a very comprehensive strategic partnership."

Focus on Clean Energy and New-Age Tech

On industry collaborations, Kim highlighted a focus on clean energy and mobility, noting that Hyundai Motor Company has signed an agreement with TVS Motor Company. "They will be developing EVs... three-wheels EV that is particularly customised to Indian demands," he said, adding that the initiative is linked to "energy transition and decarbonisation."

He further said that around 20 agreements were signed during the forum across sectors, including AI, mapping services, and technology partnerships. "We have signed about 20 MOUs this time... AI-related tech partnership has been really gearing up to a higher notch," he said.

Highlighting broader participation, he added that sectors such as "AI tech and startups and also bio and pharmaceuticals and chemicals... are all here," reflecting expanding cooperation beyond traditional industries.

Ambitious Trade Goals

On trade, Kim said both countries are working to scale up economic engagement. "They are trying to double down their efforts to increase the trade volume up to 50 billion US dollars by 2030. I think that's an achievable target," he said.

Describing the evolving ties, he said both countries are "entering into a new territory... breaking the new frontiers of our economic horizon."

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)