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AI & Enterprise

MSIT launches \'Everyone\'s AI Lab\' picks 12 teams to start service development

South Korea\'s Ministry of Science and ICT and the National Information Society Agency selected 12 teams to advance to the finals of the \'Everyone\'s AI Lab AI service competition\' and held a launch event in Seoul. The contest is part of the \'Everyone\'s AI Growth Ladder Project\' launched in August. A total of 390 proposals were submitted, narrowed to 50 and then 12 through regional presentations. Finalists receive mentoring and resources, with winners chosen in December.

Finance

Woori Financial to provide 450 billion won PF support for Pohang AI data centre

Woori Financial Group will provide financial support for a Pohang artificial intelligence data centre project with a total cost of 600 billion won. It signed a project financing agreement for the Pohang AI Factory data centre to be built in Gwangmyeong General Industrial Complex in Pohang. The project will build a 40 MW power-capacity facility with 32 MW of IT load and aims for completion by end-2027. Funding includes 150 billion won in equity and 450 billion won in PF loans.

AI & Enterprise

NHN Cloud joins hands with Korea University on defence AX to develop battlefield cloud

NHN Cloud said it signed a memorandum of understanding with the C5ISRT Convergence Research Institute under Korea University’s Graduate School of Management of Technology to cooperate in defence battlefield cloud and C5ISRT fields. The two sides will jointly plan, propose and carry out related projects and pursue R&D in battlefield cloud and AI and cloud technologies. NHN Cloud plans to support about 10 billion won in investment for resources, technology and education.