(KPL/Yonhap) Energy ministers of member economies of the Asia-Pacific Economic Cooperation (APEC) on Thursday called for joint efforts to strengthen energy security and broaden access to energy supplies amid soaring demand for electricity fueled by the growth of the artificial intelligence (AI) sector and other advanced industries.

Wrapping up the two-day APEC Energy Ministerial Meeting in Busan, about 330 kilometers southeast of Seoul, the ministers adopted a joint statement underscoring the importance of international cooperation to address global energy challenges, according to Republic of Korea's energy ministry.

The energy ministers' meeting, chaired by Republic of Korea, was held under the theme "Accelerating Sustainable, Affordable, Reliable, Secure and Innovative Energy for a Prosperous Future" from Wednesday to Thursday, bringing together energy chiefs of 21 APEC member economies, including the United States, China, Japan and Russia.

"We note the rising demand for electricity across the APEC region, particularly driven by the increasing electrification of households, commercial buildings, transport and industry, and the growth of data centers to support the expansion of AI," the joint statement read.

"In this regard, we encourage economies to diversify their power sources and technologies while supporting necessary investment, fostering technological innovation and enabling efficient market operation to enhance power system flexibility, resilience and stability."

In particular, the ministers called for investment in power grid infrastructure, such as energy storage systems, microgrids and subsea power cables, to strengthen energy security in the APEC region, according to the statement.

The ministers also encouraged the "responsible" adoption of AI across the energy sector, noting that AI is accelerating energy innovation in predictive analytics, demand management and the development of virtual power plants.

"Through these efforts, we aim to support the sustainable development of balanced, affordable, reliable, secure and innovative energy systems, and deliver socioeconomic benefits, including job creation and regional economic development, while respecting each economy's domestic circumstances and priorities," they said.

Korean Energy Minister Kim Jung-kwan said this week's event carries great significance in that "Republic of Korea demonstrated leadership by placing key energy issues on the international agenda and building global consensus."

"We will further advance the new administration's energy policies, including the establishment of an 'energy expressway,' the expansion of renewable energy and the development of next-generation power grids, so that Korea can make greater contributions to the international community," he added.

The Korean government has recently unveiled an "energy expressway" initiative, which envisions building high-voltage direct current (HVDC) infrastructure across the nation, along with a 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.

This week, Korea also hosted the World Climate Industry Expo (WCE), the 16th Clean Energy Ministerial meeting and the 10th Mission Innovation meeting in Busan to promote international cooperation on energy issues.

KPL