APEC update

 

. Building a Sustainable Tomorrow: APEC Returns to Korea After 20 Years By Ambassador Yoon Seongmee, Chair, 2025 APEC Senior Officials' Meeting Korea is hosting APEC for the first time in 20 years, focusing on innovation, digitalization and sustainability.   In 2024, we embarked on a journey to Peru under the theme of “Empower, Include, Grow”. Under this theme, we shared ideas on inclusive and interconnected growth, digitalization and innovation to promote formal and global economy, and sustainable growth for resilient development. These discussions culminated in the Leaders’ declaration in Lima about three weeks ago. Now, we are bringing the discussion across the Pacific to Korea. Korea is holding APEC for the first time in 20 years. Last time was when the APEC Economic Leaders’ Meeting was held in Busan in 2005. At that time, one of the main outcomes was the Busan Roadmap to advance our top priority of promoting free trade. As you can see, two decades ago, APEC was primarily focused on trade and investment liberalization and regional integration. We are still pursuing these goals, but APEC’s agenda has become much broader.  New challenges such as climate change and the development of technology are calling for collective response from APEC economies. It was against this backdrop that the Putrajaya Vision 2040 expanded APEC’s focus beyond traditional trade and investment to include innovation, digitalization, and sustainable and inclusive growth as the main drivers of economic growth. With this in mind, Korea selected “Building a Sustainable Tomorrow: Connect, Innovate, Prosper” as the theme and priorities for APEC 2025. The theme “Building a Sustainable Tomorrow” reflects the aspiration of realizing an open, dynamic, resilient, and peaceful Asia-Pacific region as envisioned in the Putrajaya Vision, in the near future. We all know that such a future should be ‘sustainable.’ Korea will endeavor to realize this vision by pursuing three main policy priorities: Connect, Innovate, Prosper. Connect The first priority, Connect, seeks to strengthen physical, institutional, people-to-people exchanges in the region for an open and resilient Asia-Pacific. The spread of protectionism and fragmented supply chains are weakening free trade and investment. The IMF has warned that the spread of protectionism and fragmented supply chains could shrink the global economy by more than seven percent. In response, we need to continue to discuss ways to strengthen the multilateral trading system with WTO at its core. Institutional connectivity will promote a more efficient and innovative region, and in this respect, efforts will be made next year to develop the new APEC Agenda for Structural Reform. People-to-people exchange is an integral part of our connectivity. The APEC Business Travel Card has already made movement easier for the APEC business community. In 2025, we will encourage further people-to-people exchanges, especially in the area of science for deeper integration among our citizens. Innovate The second priority will focus on innovation, particularly digital innovation. We will aim to strengthen the economic competitiveness of the Asia-Pacific region through innovation and digitalization. At the same time, we will focus on bridging the digital divide and creating an inclusive technology ecosystem so that everyone can enjoy the benefits of the advancements in technology. These days one cannot talk about digitalization and new technology without mentioning Artificial Intelligence. AI is having a fundamental impact on our lives and economies, changing the way we do business, the way we work, and the way we connect. While discussions on AI governance have already begun across various global platforms, such as the United Nations, we believe it is time to discuss AI from an APEC perspective. In this vein, Korea proposes to hold discussions on ways for the APEC economies to cooperate to enable safe and inclusive use of AI for the benefit of our people and the region. Prosper The third priority, Prosper, pertains to effectively responding to global challenges such as energy issues, climate change, health, food security, and change in demographics. This priority also aims to enhance opportunities for active economic participation to the more vulnerable economic actors including women, micro, small and medium-sized enterprises, and people with disabilities. Under this priority, Korea will propose a discussion on declining birthrate and aging population. For some economies this is already a pressing issue, while for some it will be an issue that they will confront in the future. Nonetheless, Korea believes it is time to start discussions on this trend, especially since it impacts the labor force, social divide, and ultimately, sustainable economic growth. As Korea hosts APEC again, we seek to address these new challenges, contribute to APEC’s long-term vision, and continue to promote prosperity in the Asia-Pacific region. *** Ambassador Yoon Seongmee is the SOM Chair for APEC 2025 Korea. News Releases • Features • Publications • Events • Photos • Videos