Busan: Energy ministers from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) gathered in South Korea to discuss energy security amid surging electricity demand driven by the growth of artificial intelligence (AI) and other advanced industries, the energy ministry said.
According to Yonhap News Agency, the APEC Energy Ministerial Meeting commenced in Busan, about 325 kilometers southeast of Seoul, for a two-day run. It brought together energy ministers and vice ministers from APEC member countries, including the United States, China, Japan, Indonesia, Canada, Mexico, Australia, and Russia, as stated by the Ministry of Trade, Industry and Energy.
This marks the first time in 20 years that South Korea is chairing the APEC energy ministers' meeting, after last hosting the event in 2005 in Gyeongju, the venue for this year's APEC summit scheduled for Oct. 31-Nov. 1. The focus of this year's event is on ensuring a stable supply of energy to meet the rising electricity demand driven by AI advancements and the electrification of key industries.
Participants at the meeting are also set to explore measures to strengthen global energy security, improve energy system efficiency, and foster innovation through AI technology. Representatives from key international organizations such as the Clean Energy Ministerial, Mission Innovation, the World Bank, and the Asia Development Bank will join the discussions to share their initiatives on the global energy agenda.
South Korea plans to introduce its "energy expressway" initiative, which aims to build high-voltage direct current (HVDC) infrastructure across the nation. This initiative will support the construction of a next-generation power grid designed to reduce inefficiencies in long-distance power transmissions and incorporate cutting-edge AI technology, according to the ministry.
Additionally, Korea hosted the World Climate Industry Expo (WCE), the 16th Clean Energy Ministerial meeting, and the 10th Mission Innovation meeting in Busan this week to facilitate international cooperation on energy issues.