Seoul: South Korea must move fast to secure global competitiveness in artificial intelligence (AI) through aggressive investments in 2026, the country's leading business lobbies said Monday, highlighting AI as a key growth sector for the nation. "In order to secure global-level competitiveness in the AI and green transformation sectors, it is essential to build the capability to pursue major investment projects swiftly," Chey Tae-won, chairman of the Korea Chamber of Commerce and Industry (KCCI), said in a New Year's message.

According to Yonhap News Agency, Chey, who also heads SK Group, emphasized that such efforts are crucial as South Korea faces challenges, including low growth and uncertainties in global geopolitics. The chairman has been advocating for the government to revamp local fair trade laws to assist chipmakers in raising capital for major investment projects, which includes easing shareholding regulations when launching subsidiaries to attract external investment.

Chey further stated the importance of improving the predictability of local policies to ensure businesses, which are the main drivers of growth, do not encounter obstacles when investing or pursuing innovation. He stressed that companies should not face increased regulations as they expand.

Ryu Jin, chairman of the Federation of Korean Industries (FKI), another major business lobby, underscored the necessity for strengthened public-private cooperation in AI. "The FKI will present a new growth path for the Korean economy, including institutional innovations to strengthen competitiveness in new growth sectors such as AI," Ryu stated in a separate message.

Yoon Jin-sik, head of the Korea International Trade Association, projected that global economic uncertainty would persist in 2026. He pledged to support South Korean companies' overseas expansion by advancing and developing various AI-based export support infrastructures.