Seoul, Oct 29 (NationPress) On Wednesday, South Korea and the United States formalized a cooperation agreement to collaborate in fields such as artificial intelligence (AI), space, and more, during the Asia-Pacific Economic Cooperation (APEC) meeting taking place in Gyeongju, located in southeastern South Korea.

The memorandum of understanding regarding the bilateral Technology Prosperity Deal focuses on enhancing comprehensive collaboration in scientific disciplines, including AI, next-generation mobile networks, biotechnology, and space exploration, as per the Ministry of Science and ICT, according to reports from Yonhap news agency.

Ha Jung-woo, senior presidential secretary for AI policy and future planning, remarked during the signing event, "The two nations have engaged in extensive discussions regarding shared values and technology development trajectories."

"Consequently, we have chosen to prioritize direction over speed, trust over control, and cooperation over competition," Ha emphasized.

Michael Kratsios, the head of Washington's Office of Science and Technology Policy, reiterated this sentiment, highlighting that the agreement signifies the United States' acknowledgment of South Korea as a valued technology partner.

Specifically, both nations committed to accelerating the adoption and innovation of AI technologies across various sectors.

"AI heralds a new era of innovation by empowering individuals and propelling advancements in sectors such as healthcare, advanced manufacturing, and education," the joint statement read.

Seoul and Washington pledged to collaborate on "creating pro-innovation AI policy frameworks" and "facilitating the export of reliable AI technology stacks" to expedite AI innovation.

They also agreed to jointly promote the export of trustworthy AI technologies while ensuring safe AI-driven advancements.

The South Korean science ministry noted that the two nations would enhance their cooperation in next-generation communications, pharmaceutical supply chains, quantum technologies, and space exploration.

The agreement also encompasses South Korea's endorsement of the Fostering the Future Together global initiative, initiated by Melania Trump, the U.S. First Lady, along with other endeavors aimed at advancing education and technology for children.

Science Minister Bae Kyung-hoon stated, "This memorandum of understanding symbolizes cooperation for the prosperity of future generations, as the title implies."

Bae expressed hope for further enhancing exchanges with the U.S. in the scientific domain, building upon prior agreements, including South Korea's partnership with OpenAI.

Earlier this month, President Lee Jae Myung engaged with OpenAI CEO Sam Altman to explore avenues for expanding AI partnerships, as South Korea aims to position itself as an AI hub in Asia.