President Yoon Suk Yeol, U.S. President Joe Biden, center in the back row, and other leaders participate in a family photo during the Asia-Pacific Economic Cooperation (APEC) Leaders' Retreat summit in Lima, Peru, Nov. 16. AFP-Yonhap

President Yoon Suk Yeol on Saturday pledged 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 (APEC).

Yoon made the pledge during the APEC Informal Leaders' Retreat in Lima to address pressing issues, such as climate change and regional economic disparities.

" 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 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 Korea's hosting of next year's summit in Gyeongju, located about 270 kilometers southeast of Seoul. (Yonhap)