SEOUL, Aug 28, CMC – The Inter-American Development Bank (IDB) says it has signed a memorandum of understanding (MoU) with the Jeju Province of the Republic of Korea establishing a framework for cooperation to advance sustainable tourism development and strengthen energy governance in Latin America and the Caribbean (LAC).
Under the agreement, the parties will explore the implementation of digital transformation tools for smart tourism, including the use of artificial intelligence, data analytics, and other measures to improve tourism management and governance.
“The collaboration will also cover activities to promote cost-effective, secure, resilient, and sustainable energy systems across the region through energy governance, regulatory frameworks, and institutional capacity-building.”
The IDB said that through this framework, the two parties will promote knowledge exchange and identify opportunities for collaboration that support innovation, institutional strengthening, and sustainable development in LAC in areas where Jeju has valuable experience.
CMC/2026