(MENAFN) South Korean President Lee Jae Myung on Saturday called on Asia-Pacific Economic Cooperation (APEC) member nations to view the sweeping changes brought by artificial intelligence (AI) as an opportunity to foster economic development.

Speaking at the APEC summit retreat in Gyeongju, Lee introduced South Korea’s initiative, “AI-Based Society for All.” He said the country “envisions a global AI society where people around the world can equally enjoy the benefits of technological progress, and will steadily implement policies to realize this core vision.”

“We should turn the great transformation brought by AI into an opportunity,” Lee added, highlighting South Korea’s national efforts toward an “AI transformation” and the creation of a supportive ecosystem for innovation. He noted that the government plans to expand infrastructure, including large-scale data centers, and implement regulatory reforms to foster an environment where global companies can innovate freely.

Lee also emphasized the need for collective action among APEC members to address demographic challenges, including declining birth rates and an aging population.

“Demographic changes pose serious challenges that affect all areas of society, ranging from economic growth and the labor market to education and welfare, and cannot be resolved through partial or isolated measures,” he said, suggesting the establishment of a cooperative framework to tackle these issues.

In addition, Lee pointed out that South Korea is leveraging its cultural and creative industries as a new engine of growth in response to the dual shifts of AI advancement and demographic changes.

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