Written by: Fatima Younes
South Korean President Lee Jae-myung met with World Bank Group President Ajay Banga in the capital, Seoul, to discuss ways to strengthen joint cooperation in the energy and artificial intelligence sectors. This meeting comes within a series of high-level consultations held concurrently with the World Bank President's visit to South Korea to participate in the Global Summit on Artificial Intelligence and the Digital Economy, which is organized in partnership with the relevant Korean ministries.
Supporting energy transition and inclusive growth
During the meeting held at the presidential headquarters, the two sides discussed the importance of integrating modern technologies into the energy sector to achieve sustainable growth. President Lee Jae-myung emphasized the need to strengthen international cooperation to bridge technical and economic gaps between developing and developed countries, noting that the rapid development of artificial intelligence requires clear strategies that ensure the fruits of growth are distributed fairly. He expressed his hope that international financial institutions, led by the World Bank, would play a pivotal role in alleviating economic inequality and promoting inclusive growth by investing in renewable energy projects and technological infrastructure.
Innovative initiatives to face economic challenges
For his part, Ajay Banga praised the initiatives adopted by the South Korean government, such as the "AI for All" initiative, confirming that it represents a model to be emulated in building an inclusive global society based on technology. Banga stressed that current challenges, including structural changes in the energy market and the need to address intergenerational disparities, require the creation of new jobs in vital sectors such as infrastructure, agriculture, health, tourism, and manufacturing, while making maximum use of artificial intelligence applications. The World Bank President expressed his optimism regarding the continuation of the strategic partnership with the South Korean government and companies to support energy and digital transformation projects, confirming that cooperation in these areas is a fundamental pillar for the stability of global markets and the achievement of long-term economic development.
