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Finance chief emphasizes stronger cooperation with Latin America in AI, minerals, clean energy

Published: 27 Oct. 2025, 11:25

Finance Minister Koo Yun-cheol delivers opening remarks at the Korea-Latin America Business Summit held at the Conrad Seoul in Yeongdeungpo District, western Seoul on Oct. 27. [YONHAP]

Finance Minister Koo Yun-cheol on Monday called for closer cooperation between Korea and Latin American countries in AI, critical mineral supply chains and clean energy, among other areas.

Koo made the remarks while opening the seventh Korea-Latin America and the Caribbean (LAC) Business Summit in Seoul, as Korea marks the 20th anniversary of its membership in the Inter-American Development Bank (IDB).

"Now is the time for Korea and the LAC region to deepen our strategic partnership," Koo said in his opening speech, highlighting three key areas of cooperation.

He first emphasized the importance of AI, saying that Seoul is directing its policy efforts toward an AI-driven transformation across the economy and society.

"By combining Korea's deep-tech capabilities with the LAC region's strong digital potential, we can create powerful synergies for innovation," he said.

The minister also called for strengthening critical mineral supply chains, noting that the LAC region holds about 30 percent of the world's reserves.

"By working together, we can build secure and sustainable value chains," Koo said.

He further urged collaboration in clean energy, saying that with Seoul's proven expertise, both sides can jointly contribute to the global energy transition.

To advance such goals, Koo said Seoul will establish an IDB AI Hub to scale up financing and innovation in the AI sector.

Yonhap