S. Korea advocates for scaling up investments in AI, green technologies through ADB

The Asian Development Bank (ADB) is capable of fulfilling a vital function as a platform for multilateral cooperation in the face of current global challenges, Koo Yun-cheol, Governor for South Korea in the ADB, said during the Governors' Business Session at the 59th Annual Meeting of the ADB Board of Governors, Report informs.

"The challenges we face today cannot be overcome by the efforts of a single country, necessitating deeper cooperation among all participants. It is in this context that ADB can assume a central role as a platform for coordinating joint actions," Koo Yun-cheol noted.

The South Korean representative outlined three key areas aimed at ensuring the sustainable development of the Asia-Pacific region.

"The first area is ensuring supply chain stability. Geopolitical tensions have exposed significant vulnerabilities in existing logistics systems. We support ADB's focus on increasing supply chain resilience and working with critical mineral resources, and Korea is ready to actively participate in these initiatives.

The second area is environmental transformation. This is not only about environmental protection but also about strengthening energy security. We urge ADB to increase investment in green technologies throughout the region.

The third area is transformation in AI, which is the main driver of innovation and productivity growth. This offers developing countries fundamentally new opportunities for economic breakthroughs," he emphasized.