President Yoon Suk Yeol on Saturday pledged South Korea's commitment to leading efforts to expand use of carbon-free energy and foster inclusive growth among members of the Asia-Pacific Economic Cooperation.

"South Korea will cooperate with APEC members to achieve their carbon neutrality goals in an economically viable manner through the Carbon-Free Energy Initiative," Yoon said, according to a summary provided by his office.

Yoon detailed plans to lead technological collaboration and develop international standards for the hydrogen economy while highlighting South Korea's initiatives in advancing small modular reactors (SMRs) and establishing nuclear supply chains to promote the peaceful use of nuclear energy.

SMRs are ready-to-install modular reactors that are smaller in size and power output compared with traditional nuclear reactors, allowing for more flexible and scalable deployment.

He also proposed creating an "APEC Future Prosperity Fund" to foster entrepreneurship, enhance economic opportunities for youth and encourage regional exchanges.

As the incoming chair, Yoon asked for APEC members' support for South Korea's hosting of next year's summit in Gyeongju, located about 270 kilometers southeast of Seoul. (Yonhap)