President Yoon Suk Yeol and other leaders of the U.S.-led Indo-Pacific Economic Framework for Prosperity(IPEF) on Thursday agreed to establish a Critical Mineral Dialogue on supply chain stability for key minerals and a network on personnel exchanges.

The 14 leaders of the IPEF member states, including Yoon, gathered in a separate meeting on the sidelines of the Asia-Pacific Economic Cooperation Summit in San Francisco.

They highly assessed reaching an agreement in three of the IPEF's four areas – supply chains, a clean economy and a fair economy.

However, the participating nations have yet to reach a consensus on trade, which also includes environmental issues, and have agreed to continue negotiations, although there is speculation that IPEF discussions have been delayed following Wednesday's talks between the leaders of the U.S. and China.

On clean energy, the attendees agreed to promote an investment of 155 billion U.S. dollars by 2030, which the top office expected will generate business opportunities for South Korean firms.

The participating nations will also expand energy security and technological cooperation, hold a leaders' summit once every two years, and a ministerial meeting annually.