South Korean President Lee, Dutch PM Discuss Semiconductors In Phone Talks

(MENAFN- IANS) Seoul, Aug 11 (IANS) South Korean President Lee Jae Myung held phone talks with Dutch Prime Minister Dick Schoof on Monday and discussed ways to step up their bilateral cooperation in semiconductors and other areas, his office said.

During their first phone talks, Schoof congratulated Lee on his inauguration and expressed hope that the friendly ties between the two countries will deepen with the launch of the new administration, presidential spokesperson Kang Yu-jung said in a written briefing, Yonhap News Agency reported.

Lee called for active communication at all levels to advance their ties as strategic partners in the semiconductor sector.

The two sides also stressed the strengthening partnership of the two countries in recent years in areas such as trade, investment, artificial intelligence and cybersecurity, and agreed to further expand their exchanges.

Earlier on August 8, South Korea's industry minister said that the government has launched a task force (TF) aimed at establishing a next-generation power grid that will use artificial intelligence (AI) to improve efficiency in the power supply.

The task force was formed after President Lee Jae Myung called last week for efforts to create an intelligent power grid that connects the entire nation with optimal power generation, storage and consumption, according to the Ministry of Trade, Industry and Energy, Yonhap News Agency reported.

The TF comprises relevant government agencies, including the finance, industry, science and land ministries, as well as public entities, such as the Korea Electric Power Corp. and the Korea Power Exchange.

The envisioned next-generation power grid will make use of AI technology to effectively supply renewable energy without the massive construction of new infrastructure amid soaring demand for electricity sparked by technological development, the ministry explained.

It will also promote efficient power use and enhance the country's power security, the ministry added.

"We are now in an era where the electricity determines survival, and to supply cheaper and cleaner power with stability, we need a next-generation power grid utilising AI technology," said Second Vice Industry Minister Lee Ho-hyeon, who heads the new task force.

"By building dense, small-scale local power grids and connecting them, we will redesign our national power grid," he added.

The vice minister also said the government will work to foster new business models in the power market, such as virtual power plants, to support the sustainable growth of the energy industry and revitalise regional economies.

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