Samarkand: Finance Minister Koo Yun-cheol underscored the importance of a green transition to reduce reliance on fossil fuels during the annual meeting of the Asian Development Bank (ADB) in Samarkand, Uzbekistan, earlier this week, his office said Wednesday.

According to Yonhap News Agency, his remarks came at the ADB's 59th annual meeting, held Monday and Tuesday, in the Central Asian country, where participants discussed regional economic conditions and ways to strengthen financial cooperation, the Ministry of Finance and Economy said.

Koo emphasized that a green transition is not solely about environmental protection but also aids in mitigating recent energy price volatility. He further stressed the need for supply chain stability, advocating for stronger regional cooperation, including diversifying supply chains for critical minerals.

In addition to these discussions, Koo highlighted the significance of transitioning to artificial intelligence (AI), noting that the adoption and use of AI could create growth opportunities for developing countries. "South Korea and the ADB will expand cooperation in the field of AI," he stated.

On the sidelines of the meeting Monday, Koo also engaged in bilateral talks with his Japanese counterpart, Satsuki Katayama. The two sides exchanged views on addressing disruptions in energy supply chains following conflicts in the Middle East and discussed strategies for diversifying energy imports.