Lee Meets World Bank President: "We Must Also Address AI's Adverse Effects... International Cooperation Needed to Tackle Polarization" (Roundup)

Lee Meets World Bank President
"Growth Benefits Must Be Shared Fairly for Sustainable Growth"
World Bank Chief Backs "Global AI Basic Society"
"Cooperation to Expand Youth Jobs and Private Investment"
Lee Calls for More Korean Talent at World

President Lee Jaemyung met with Ajay Banga, president of the World Bank Group (WBG), on October 19 and called for a coordinated international response to address polarization resulting from the development of artificial intelligence (AI) and promote inclusive growth. The aim, he said, is to spread the benefits of AI technology while reducing its adverse effects and easing inequality both between countries and within them. Emphasizing that sustainable growth is possible only if its benefits are shared equitably, he called on international financial institutions, including the World Bank, to play an active role.

President Lee Jaemyung shakes hands with World Bank Group President Ajay Banga before their meeting at Cheong Wa Dae on October 19, 2026. Yonhap News

Kang Yoo-jung, senior presidential spokesperson, said in a written briefing on October 19 that President Lee met with President Banga at the main building of Cheong Wa Dae and exchanged views on mitigating the adverse effects of AI, “AI for All,” and ways to address polarization within South Korea and between countries.

Welcoming President Banga, who is visiting South Korea for the Global AI and Digital Summit to be held in Seoul on October 20, President Lee said he hoped the meeting would bring together the experiences and insights of different countries and help ensure that more people benefit from AI. “Each country should give full consideration not only to the benefits of AI but also to its adverse effects,” he said, stressing that “international cooperation must be strengthened to narrow the gaps within countries and between countries resulting from the development of AI.”

President Lee singled out addressing polarization as the top priority for governments. Emphasizing that “sustainable growth is possible only if the benefits of growth are shared broadly and inequality and disparities are reduced,” he urged “the World Bank and international financial institutions to pay greater attention to inclusive growth.”

President Banga expressed support for the South Korean government's vision of “AI for All” and its policy direction for realizing a “Global AI Basic Society.” He said that expanding job opportunities for young people is important to reducing inequality between generations, and that AI should be used to create new employment opportunities across a range of industries, including infrastructure, agriculture, health care, tourism, and manufacturing. He also expressed his intention to continue cooperating with the South Korean government and businesses in AI and energy.

The meeting drew attention as a potential opportunity to link President Lee's “Global AI Basic Society” vision, which he has presented to the international community, with the World Bank's development finance and private investment. At the Group of Seven (G7) summit last June, President Lee stressed the need to bridge the AI divide between countries and proposed the idea of a “Global AI Hub.” At the United Nations General Assembly last month, he also proposed establishing a cooperative framework involving international organizations, multilateral development banks, and industry.

The two expressed their rapport as they spoke about meeting at international conferences. When President Banga entered the meeting room, President Lee greeted him, saying, “We meet often.” President Banga also mentioned having met at the G7 and Group of 20 (G20) summits, and recalled listening to children sing with President Lee and his wife in Evian, France, last June.

President Lee said, “I greatly appreciate the World Bank's contributions to the international community to date,” adding, “We will also work to contribute more to the World Bank's work.” As the meeting concluded, he asked President Banga to “pay attention to ensuring that more talented South Koreans can work at the World Bank Group.”

This content was produced with the assistance of AI translation services.