South Korea's Ministry of Economy & Finance announced that Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol signed a letter of intent with European Bank for Reconstruction and Development President Odile Renaud-Basso in London to establish an EBRD AI K-Hub in Korea. The hub is intended to serve as a cooperation office that applies artificial intelligence to the EBRD's development cooperation projects for developing countries and supports those countries' AI capacity building. In the meeting, the ministry also outlined its broader plan to make Korea a base for international AI cooperation by bringing together AI offices of international organizations in the country. It said cooperation is already under way with the World Bank, Inter-American Development Bank and Asian Development Bank, while discussions with the Central American Bank for Economic Integration continue. The two sides also discussed the EBRD's energy policy and opportunities for Korean personnel, and the ministry highlighted Korea's AI Transformation and Green Transformation strategies.
Ministry of Economy & Finance (South Korea)2026-05-19
South Korea's Ministry of Economy & Finance signs letter of intent with EBRD to establish an AI K-Hub in Korea
South Korea’s Ministry of Economy & Finance signed a letter of intent with the European Bank for Reconstruction and Development to establish an EBRD AI K-Hub in Korea to apply artificial intelligence to EBRD development projects and support AI capacity building in developing countries. The ministry aims to position Korea as a base for international AI cooperation, citing work with the World Bank, Inter-American Development Bank and Asian Development Bank, and noted discussions on EBRD energy policy, Korean personnel opportunities, and Korea’s AI and Green Transformation strategies.