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

According to Yonhap News Agency, during the meeting, Koo expressed South Korea's desire to further expand cooperation with the ADB on the occasion of the upcoming South Korea-Central Asia Summit. Kanda responded by affirming the ADB's readiness to support cooperation between South Korea and Central Asia, expressing hope that such ties will lead to detailed investment projects.

Koo also expressed support for the Center for AI Innovation and Development, which is currently being prepared by the ADB. He noted that South Korea will seek to share its technology and experience for AI transformation projects in developing countries. South Korea additionally called for the ADB's support for the establishment of the Global AI Hub initiative.

Other agenda items included discussions on potentially applying South Korea's experience in power generation, transmission, and distribution to the ADB's energy-related projects in the region, as stated by the finance ministry.