Seoul, South Korea – OpenAI, the company behind ChatGPT, has signed a Memorandum of Understanding (MOU) with the Korea Development Bank (KDB) to foster the growth of the AI ecosystem in South Korea. This marks the first time OpenAI has entered into such an agreement in the country.

The agreement, signed during a virtual meeting between Jason Kwon, Chief Strategy Officer of OpenAI, and Kang Seok-hoon, Chairman of KDB, aims to support the development of South Korea's AI industry. OpenAI emphasized that this partnership represents a significant milestone in its efforts to support innovation and growth in the Korean AI sector.

Through this collaboration, OpenAI and KDB will work together to:

Support AI startups: By leveraging KDB's resources, the two organizations will provide funding and support to promising AI startups in South Korea.
Develop Korean-language AI models: The partnership aims to create AI models that are tailored to the nuances of the Korean language, enhancing the capabilities of AI applications in the country.
Explore data center development: OpenAI and KDB will explore the possibility of developing data centers in South Korea to support the growing demand for AI infrastructure.
While specific projects are still under discussion, the agreement signals OpenAI's growing interest in the South Korean market. The company has already established its first Asian office in Japan in April and is planning to open another office in Singapore later this year.

"South Korea is a leading country in the AI field with a clear understanding of the importance of infrastructure," said Jason Kwon, Chief Strategy Officer of OpenAI. "This MOU with KDB reflects our shared commitment to driving innovation and supporting the growth of the Korean AI ecosystem."

Kang Seok-hoon, Chairman of KDB, added, "The advancement of the AI industry will be crucial for Korea's competitiveness. KDB will provide full support to OpenAI's activities in Korea as a government coordinator."

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