Finance minister, ADB chief discuss cooperation in supply chains, AI and energy

Korea's finance minister on Monday discussed cooperation in supply chains for key minerals, AI and energy with the president of the Asian Development Bank (ADB).

Minister Koo Yun-cheol met with ADB President Masato Kanda in Seoul to discuss ways to implement concrete projects based on their bilateral cooperation, according to the Ministry of Finance and Economy.

During the meeting, Koo said Korea hopes to further expand cooperation with the ADB on the occasion of the Korea-Central Asia Summit slated for Wednesday.

In response, Kanda said the ADB is ready to support cooperation between Korea and Central Asia, while expressing hope that such ties will lead to detailed investment projects.

Koo also expressed support for the Center for AI Innovation and Development currently being prepared by the ADB, noting Korea will seek to share its technology and experience for AI transformation projects in developing countries.

Korea additionally called for the ADB's support for the establishment of the Global AI Hub initiative.

Other agenda items included ways to potentially apply Korea's experience in power generation, transmission and distribution to the ADB's energy-related projects in the region, according to the Finance Ministry.

Yonhap