Seoul: Finance Minister Koo Yun-cheol has emphasized South Korea's commitment to becoming a global leader in artificial intelligence (AI). Koo pointed to plans by international organizations to set up key AI platforms in the country as a significant step forward in this ambition. According to Yonhap News Agency, Koo, who also serves as the deputy prime minister for economic affairs, made these remarks while in Washington attending the G20 finance ministers and central bank governors meetings. This comes at a time when the global economy is dealing with the impacts of the ongoing U.S.-Israeli war against Iran. Koo highlighted that the World Bank has already established an AI hub in Korea, and several U.N. agencies, along with the Asian Development Bank and the Inter-American Development Bank, are looking to do the same. Koo further announced that South Korea intends to propose that the International Monetary Fund and the European Bank for Reconstruction and Development consider establishing their AI hubs in the country. He emphasized the importance for the South Korean industry to concentrate on AI memory chips, high-bandwidth memory chips for computing and inference, and sensor chips. Koo expressed optimism that the Korean economy's transition to AI will advance swiftly once the Middle East conflict concludes. He also suggested that South Korea should prioritize developing small language AI models for application in sectors like shipping, automotive, and home appliances. He noted that competing in large language models, a field dominated by the United States, may be challenging for Korea. Additionally, Koo portrayed AI as a potential solution to address the G20's primary goals of growth and addressing imbalances, citing the technology's capability to boost work efficiency and contribute positively to the global economy.