South Korea's science ministry said Wednesday it will sign an agreement with the United States to broaden cooperation in the science sector on the sidelines of the Asia-Pacific Economic Cooperation (APEC) gathering underway in the southeastern city of Gyeongju.

Axar.az, citing Yonhap, reports that the Technology Prosperity Deal, to be signed by Science Minister Bae Kyung-hoon and Michael Kratsios, head of Washington's Office of Science and Technology Policy, later in the day, centers on expanding "omnidirectional" cooperation in science.

According to the Ministry of Science and ICT, the agreement comes amid the growing importance of emerging technologies, including artificial intelligence (AI), quantum, and synthetic biology.

In detail, the two countries agreed to speed up efforts to utilize and innovate AI technology for the development of various industries.

Seoul and Washington will jointly develop policy frameworks and work to establish a shared AI ecosystem in Asia and other regions.