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APEC Energy Ministerial Meeting kicks off in Busan, South Korea

Energy ministers from the 21 APEC member economies gathered

By Diplomacy Journal Kayla Lee 

 

Energy ministers from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) gathered in South Korea on Aug. 27 to discuss energy security amid surging electricity demand driven by the growth of artificial intelligence (AI) and other advanced industries, the energy ministry said.

 

The APEC Energy Ministerial Meeting kicked off in Busan, about 325 kilometers southeast of Seoul, for a two-day run, bringing together energy ministers and vice ministers from APEC member countries, including the United States, China, Japan, Indonesia, Canada, Mexico, Australia and Russia, according to the Ministry of Trade, Industry and Energy.

 

 

It 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 the southeastern city of Gyeongju, the venue for this year's APEC summit scheduled to be held Oct. 31-Nov. 1.

 

This year's event will be centered on ways to ensure stable supply in light of soaring demand for electricity sparked by the advancement of AI and the electrification of key industries, the ministry said.

 

Participants will also explore measures to strengthen global energy security, improve the efficiency of energy systems and foster innovation by harnessing AI technology, it added.

 

Officials from the Clean Energy Ministerial, Mission Innovation, the World Bank, Asia Development Bank and other key international organizations will also take part in the discussions to share their initiatives on the global energy agenda.

 

South Korea, for its part, will introduce its "energy expressway" initiative, which envisions building high-voltage direct current (HVDC) infrastructure across the nation, and its plan to build a next-generation power grid that lowers the inefficiency of long-distance power transmissions and makes use of cutting-edge AI technology, according to the ministry.