Securing 260,000 GPUs, joining forces for"physical AI collaboration"... Jensen Huang:"Korea's potential is limitless."

The IMF chief acknowledges Korea's economic recovery, but businesspeople are being pressured to invest in regulatory reform.

Welcoming the participating leaders, presiding over meetings, and engaging in summit diplomacy, emphasizing the pursuit of"joint prosperity."

(Gyeongju = Yonhap News) Special Reporting Team = President Lee Jae-myung, while carrying out a busy multilateral and bilateral diplomatic schedule on the first day of the Gyeongju Asia-Pacific Economic Cooperation (APEC) Summit on the 31st, also accelerated his economic efforts.

To achieve the goal of becoming one of the world's top three AI powerhouses, we secured an additional ally in Nvidia, and received confirmation from the International Monetary Fund (IMF) that the Korean economy is on the path to recovery.

At the APEC summit, we have accelerated our steps toward the goal of killing two birds with one stone: strengthening Korea's diplomatic standing and achieving tangible economic results.

The president met with NVIDIA CEO Jensen Huang at the Gyeongju Hwabaek Convention Center that afternoon to discuss cooperation plans.

At this event, Nvidia agreed to supply 260,000 of its latest graphics processing units (GPUs) to Korea during President Lee's term.

According to Kim Yong-beom, the chief of staff at the Blue House, Jensen Huang said,"If we include the 30,000 GPUs that Korea already possesses, it would be approximately 300,000, ranking third in the world in terms of possession, following the United States and China."

By securing a large number of GPUs, a key asset required for AI development and operation, the government has successfully laid the foundation for its strategy to foster AI as a key future industry in Korea.

Following the promise of large-scale investment from BlackRock, the world's largest asset management company, OpenAI, the developer of ChatGPT, and Amazon Web Services (AWS), this marks the second time that a major global big tech company has joined the ranks.

NVIDIA and Korea have also agreed to cooperate to take the lead in 'physical AI,' which is considered the next stage of the AI revolution.

Jensen Huang said,"Korea is a country with both manufacturing capabilities and software," and Kim said,"The sky is the limit for Korea to become a leader in manufacturing AI."

The president also said at the event,"If Nvidia is leading the pace of AI innovation, Korea is the optimal partner to leverage this pace and point the right direction for innovation."

It is also interpreted that the strategy to secure leadership in the global AI development competition by prioritizing agendas such as 'AI for all' and 'AI basic society' is being highlighted.

The president then met with IMF Managing Director Kristalina Georgieva and explained that the Korean economy was overcoming its recession and becoming more active, with the KOSPI index surpassing 4,000 points.

Accordingly, Georgieva also predicted,"Looking at various indicators, the Korean economy is recovering, and if this trend continues, it will rebound to the level of potential growth next year."

They are embarking on a sales campaign to bring forward the promised 'KOSPI 5,000 era' by publicizing the attractiveness of the Korean market as an investment destination and attracting more funds.

Earlier, at a luncheon with the APEC Business Advisory Council (ABAC), the president also said,"In order to fulfill our promise to create a pragmatic, market-oriented government, we are boldly reorganizing unnecessary regulations and significantly expanding support for future industries."

As the leader of the APEC chair, the president led the plenary session discussions while also engaging in summit diplomacy with the participants.

As his first schedule that day, he personally welcomed Chinese President Xi Jinping and other APEC summit attendees, and presided over the first session, emphasizing that amidst the rapidly changing international order, we must seek a path to shared prosperity based on a spirit of cooperation and solidarity.

This is interpreted as an endorsement of the values of multilateralism and free trade amid growing global uncertainty, including the spread of protectionism intertwined with the US-China competition, supply chain crises, and the ignition of spheres of influence conflicts, including the war in Ukraine.

The president then met with Crown Prince Khalid of Abu Dhabi of the United Arab Emirates (UAE) and agreed to expand bilateral relations in a more strategic and future-oriented manner.

He also held bilateral summits with Philippine President Ferdinand Marcos and Chilean President Gabriel Boric.

(Reporters Ko Dong-wook and Hwang Yun-gi)