Koo Yun-cheol, Deputy Prime Minister and Minister of Economy and Finance, met with Masatsugu Asakawa, President of the Asian Development Bank (ADB), to discuss expanding cooperation in key mineral supply chains, artificial intelligence (AI), and energy sectors.
During their meeting on the morning of September 14 at the Government Seoul Office, Koo and Asakawa agreed to develop Korea-ADB cooperation into concrete projects and outcomes. This meeting marked Asakawa's first visit to Korea since taking office.
Koo welcomed Asakawa's visit and emphasized the need to translate the expanding cooperation between Korea and ADB in climate technology, AI, and key minerals into tangible results. Asakawa expressed gratitude for Korea's continued support and hoped for strengthened collaboration between the two sides.
One of the main topics discussed was the expansion of cooperation in Central Asia. Koo proposed enhancing Korea-ADB collaboration for regional economic development in light of the upcoming Korea-Central Asia and Korea-Uzbekistan summits.
In the key minerals sector, Koo stressed the importance of strengthening cooperation between Korea and Uzbekistan to support local industrial development while ensuring a stable supply chain for Korean industries. Asakawa stated, "We are ready to actively support cooperation between Korea and Central Asia through coordinated financing for major projects, and we hope that collaboration in key minerals will lead to concrete investments."
Both sides also agreed on the necessity of expanding cooperation in the AI sector. Koo suggested working together to ensure the prompt launch of ADB's AI Innovation Development Center (CAID) and proposed initiatives to connect Korea's technology and experience with the AI transition needs of developing countries. He also urged ADB to play an active role in Korea's efforts to establish a global AI hub.
Asakawa expressed optimism that the establishment of the AI Innovation Development Center in Korea would further enhance cooperation in the AI field between Korea and ADB.
Discussions also included energy infrastructure cooperation to support AI transition. Koo noted, "As the AI industry expands, the importance of establishing a stable energy infrastructure is growing," and suggested utilizing Korea's power generation, transmission, and distribution technology and operational experience in ADB's regional energy projects. They also exchanged views on future energy policy directions related to ADB's support for nuclear power.
Both sides agreed to identify and pursue specific projects in areas where both countries have strengths, building on the cooperation foundation established thus far to achieve tangible results.
* This article has been translated by AI.
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