Rep. Chung Sye-kyun of the ruling Democratic Party of Korea who served as speaker of the 20th National Assembly visited an artificial intelligence (AI)-related small and medium-sized company and showed his will to work hard to provide financial support for technology companies.
Rep. Chung visited IVS, located in Seongdong-gu, Seoul, on May 3 to meet with IVS CEO Bae Young-hoon and held a special lecture for the company's executives and employees.
IVS is a company that develops AI-based intelligent CCTV and others based on original technologies that are needed for video and audio analysis.
Introducing the domestic economic history and trends, Chung said, "The Republic of Korea is the only country that has succeeded in democratization and industrialization over the past 100 years. We have achieved a great achievement, turning Korea from a recipient country to a donor one."
Noting that the current era of the fourth industrial revolution requires a shift from positive regulation to negative regulation, he said, "In order to lead the fourth industrial era in particular, financial support is needed so that many technology companies like IVS can emerge.
"If startups are activated through participation in small and medium businesses and investments in venture businesses, technology, jobs and sustainable growth are expected to follow."
He introduced personal stories such as his and family history while serving for Ssangyong in the past, adding, "I hope IVS will become a successful company, along with Korea."