​​​​​​ISTANBUL

South Korean President Lee Jae Myung on Saturday urged Asia-Pacific Economic Cooperation (APEC) member economies to view the transformations brought about by artificial intelligence (AI) as an opportunity to promote economic growth, Yonhap News reported.

During the retreat session of the APEC summit held in the South Korean southeastern city of Gyeongju, Lee unveiled his country’s initiative, “AI-Based Society for All.”

South Korea “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," Lee said in his remarks.

"We should turn the great transformation brought by AI into an opportunity," he said, adding that South Korea is pursuing an "AI transformation" at the national level and fostering an ecosystem for AI innovation.

"We will expand infrastructure, such as large-scale data centers, and carry out regulatory reforms to create an environment where global companies can innovate freely," he said.

Lee urged joint action to tackle declining birth rates and an aging population, suggesting the creation of a collaborative framework among APEC members.

"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.

He said in response to major shifts driven by AI and demographic changes, South Korea is turning to its cultural and creative industries as a new driver of growth.