About APEC 2025 KOREA

Korea’s Minister for Trade Inkyo Cheong of the Ministry of Trade, Industry and Energy (MOTIE) held high-level bilateral talks with trade representatives of 14 APEC member economies and the World Trade Organization (WTO) through May 14-16 on Jeju Island, as part of a series of bilateral meetings convened on the sidelines of the 2025 APEC Ministers Responsible for Trade (MRT) Meeting. During the talks, he took stock of the recent developments in U.S. tariff consultations with major economies and discussed measures to enhance trade and economic cooperation in addressing global trade uncertainties. First, Trade Minister Cheong met with U.S. Trade Representative Jamieson Greer on May 15 to discuss the status of U.S. tariff consultations with major economies and to exchange views on the Korea-U.S. technical discussions launched on May 1. Representative Greer noted Korea’s efforts to deliver meaningful outcomes through this year’s APEC MRT Meeting as chair of APEC 2025. On May 16, Trade Minister Cheong held a meeting with Masaki Okushi, Vice Minister of Japan’s Ministry of Economy, Trade and Industry (METI), and Miyaji Takuma, Vice Minister of Japan’s Ministry of Foreign Affairs (MOFA). Commemorating the 60th anniversary of the normalization of diplomatic relations, the two sides agreed to deepen collaboration in key areas like advanced industries, hydrogen and other emerging energy sectors, and supply chain resilience. They also pledged to work together toward the success of APEC 2025 and the Osaka-Kansai Expo and to actively leverage both Korea-Japan and Korea-U.S.-Japan cooperation platforms. In the meeting with Budi Santoso, Indonesia’s Minister of Trade, Trade Minister Cheong emphasized that more than 2,000 Korean companies are currently operating in Indonesia, requesting the Indonesian government’s support in resolving challenges faced by Korean firms including local certification and import restriction issues so as to ensure stable business operations. Meanwhile, Korea’s Deputy Minister for Trade Park Jong-won met with Ian McKay, Canada’s Special Envoy for the Indo-Pacific and Ambassador to Japan, to discuss ways to expand Korea-Canada cooperation in celebration of the 10th anniversary of the two countries’ bilateral FTA and to address support for Korean companies operating in Canada. He also met with Claudia Sanhueza Riveros, Chile’s Undersecretary for International Economic Relations, to review progress on the Korea-Chile FTA upgrade negotiations and to request the Chilean government’s support for Korean companies seeking to participate in Chile’s lithium development projects. Trade Minister Cheong stated that the bilateral talks with 14 Asia-Pacific economies’ trade leaders and the WTO Director-General have helped to promote the sharing of insights on global developments and trade response measures, while also advancing close cooperation on key issues such as building resilient critical minerals supply chains, expanding trade networks, and addressing challenges faced by Korean companies operating overseas. He added that the ministry will strive to mitigate trade uncertainties and external risks based on the newly gained insights and strengthened intraregional cooperation.

2025 APEC Ministers Responsible for Trade Joint Statement Jeju, Republic of Korea | 15-16 May 2025   1. We, the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT), met in Jeju, Republic of Korea, from 15-16 May 2025, under the chairmanship of H.E. Inkyo Cheong, Minister of Trade of the Republic of Korea. We welcome the participation of the Director-General of the World Trade Organization (WTO), the Deputy Secretary-General of the Organisation for Economic Co-operation and Development (OECD), the APEC Business Advisory Council (ABAC), the Association of Southeast Asian Nations (ASEAN), and the Pacific Economic Cooperation Council (PECC).   2. Taking inspiration from Korea's APEC 2025 theme "Building a Sustainable Tomorrow", we have advanced APEC’s agenda through three thematic priorities: Connectivity through Multilateral Trading System, Artificial Intelligence (AI) Innovation for Trade Facilitation, and Prosperity through Sustainable Trade.   3. We remain committed to the Putrajaya Vision 2040, including through the implementation of the Aotearoa Plan of Action to build an open, dynamic, resilient, and peaceful Asia-Pacific community for the prosperity of all our people and future generations. We are concerned with the fundamental challenges faced by the global trading system. We remain committed to APEC as the premier forum for regional economic cooperation and emphasize the importance of its role in bringing us together to address the economic challenges facing our region and create a more resilient and prosperous Asia-Pacific region.   4. We recognize the importance of the WTO to advance trade issues, and acknowledge the agreed upon rules in the WTO as an integral part of the global trading system. We recognize the WTO has challenges and needs meaningful, necessary, and comprehensive reform to improve all its functions, through innovative approaches, to be more relevant and responsive in light of today’s realities. We commend the efforts to deepen discussions in the WTO on contemporary trade issues. We intend to work collaboratively through APEC's role as an incubator of ideas and support Members working together to deliver a successful Fourteenth WTO Ministerial Conference (MC14) in March 2026 in Cameroon.   5. We welcome the acceptance by 16 APEC economies of the WTO Agreement on Fisheries Subsidies, and call on remaining economies to complete their domestic procedures, and encourage all WTO Members to conclude negotiations on additional disciplines as soon as possible. We recognize the need for a constructive engagement on agriculture at the WTO. We also note the extension of the moratorium on customs duties on electronic transmissions as decided at MC13. We note the importance of enhancing predictability for the development of the digital economy. We welcome efforts to continue to reinvigorate work under the Work Program on Electronic Commerce.   6. We recognize the positive role of plurilateral negotiations at the WTO, including the Joint Statement Initiatives (JSIs), for advancing issues of interest to Members and to make the WTO more relevant. We welcome the progress made and emphasize their roles to address contemporary trade issues, foster new ideas, facilitate economic growth, and build momentum toward multilateral outcomes. We note the efforts of participating Members of the WTO JSIs to incorporate the Investment Facilitation for Development Agreement and the Agreement on Electronic Commerce into the WTO legal framework. We note the Statement of the APEC Committee on Trade and Investment together with the APEC Investment Experts’ Group Supporting the Investment Facilitation for Development Agreement, which reaffirms APEC’s strong commitment to a more transparent, predictable and business-friendly investment environment.   7. Recognizing its importance to APEC, we reaffirm our shared commitment to advancing economic integration in the Asia-Pacific region in a manner that is market-driven, including through the work on Free Trade Area of the Asia-Pacific (FTAAP) agenda. We welcome the study conducted by the APEC Policy Support Unit (PSU) on areas of convergence and divergence in trade agreements in the region and are committed to begin work this year in the areas of work on convergence and divergence identified in the Ichma Statement on A New Look at the FTAAP. We encourage further efforts and concrete work programs to enhance experience sharing, capacity building, and technical cooperation efforts. We welcome continued efforts in implementing the Capacity Building Needs Initiative (CBNI), aimed at strengthening member economies' readiness to participate in high standard and comprehensive undertakings.   8. We commit to ensuring that the benefits of digital transformation are accessible to all including by bridging digital divides and creating a safer digital ecosystem. We recognize the important role of the digitalization of the economy as a driver for innovation, productivity and economic growth across the region. As we approach the completion of the Work Program for the Implementation of the APEC Internet and Digital Economy Roadmap (AIDER) in 2025, we recognize the need to systematically develop an approach for the continued advancement of AIDER’s objective beyond 2025, in a way that addresses emerging challenges and opportunities in the rapidly evolving digital landscape and its impact on trade and investment. We encourage economies to strengthen digital infrastructure and accelerate interoperability to facilitate digital transformation. We will continue our cooperation on facilitating the flow of data and strengthening business and consumer trust in digital transactions.   9. We are committed to promoting intellectual property rights in advancing innovation and creativity through relevant policies and programs. We recognize the importance of engagement with traditional knowledge holders, such as Indigenous Peoples as appropriate.   10. We are committed to promoting the cross-border recognition of electronic trade-related documents, such as the electronic bills of lading and electronic invoices, through measures to facilitate paperless trade while enhancing capacity building initiatives and dialogues to support these efforts. In this regard, we acknowledge benefits of public-private collaboration and look forward to further exploratory discussions on such collaboration for paperless trade. We encourage working towards aligning our legal frameworks with the UNCITRAL Model Law on Electronic Transferable Records (MLETR) noting the different levels of readiness and capacity.    11. We recognize AI’s potential to fundamentally reshape the landscape of international trade. We acknowledge the importance of adopting AI-enabled procedures that contribute to trade facilitation, particularly with enhancing customs procedures. We encourage economies to share information on domestic approaches to relevant AI-related policy with the private sector, including micro, small and medium-sized enterprises (MSMEs), to help businesses identify opportunities and risks as well as improve competitiveness. To support ongoing efforts in AI-driven transformation and capacity building across the APEC region, we intend to discuss opportunities for voluntary information exchange on trade-related AI standards and technologies that takes into account and complements the work of appropriate specialized international organizations, processes, and other efforts.   12. We remain committed to the implementation of the APEC Connectivity Blueprint (2015-2025) by strengthening physical, institutional and people-to-people connectivity as well as taking advantage of digital connectivity. We encourage members to evaluate the current progress of the APEC Connectivity Blueprint and complete its final review in a timely manner. We reaffirm the value of APEC Business Travel Card (ABTC) in facilitating business mobility and enhancing connectivity. We encourage economies’ uptake and acceptance of the virtual ABTC. We underscore the importance of implementing the Supply Chain Connectivity Framework Action Plan, now in its third phase (SCFAP III, 2022-2026), to address supply chain chokepoints in the region. We also reaffirm the importance of quality infrastructure development and investment. We remain committed to the full and effective implementation of the WTO Trade Facilitation Agreement, recognizing its relevance in an evolving trade environment.   13. We acknowledge that global supply chains are facing cross-sectoral challenges. We support efforts to ensure that supply chains issues continue to be discussed within APEC to enhance the resilience of supply chains for sustainable economic growth across the APEC region. We welcome the discussions of the Forum on Sustainable Supply Chains, and we encourage greater engagement of the private sector in APEC’s supply chain discussions, including through public-private dialogues.   14. We recognize the critical role that trade can play in achieving food security, minimizing food supply chain disruptions, and promoting open, fair, transparent, productive, sustainable, resilient, and innovative agri-food systems that benefit all. In this regard, we recall our commitment to the goals of the APEC Food Security Roadmap Towards 2030.   15. We encourage economies to implement effective reforms in the services sector given its contribution to economic growth. We recognize the existing efforts to promote the APEC Services Competitiveness Roadmap (ASCR), which will reach its target date in 2025. We encourage officials to develop an ambitious framework for a post-2025 services roadmap. This framework may take into account the expanding role of digitally enabled services, as well as the impact of emerging technologies. In this regard, we further encourage cross-fora cooperation to discuss how to foster innovative services.   16. We welcome the updated Investment Facilitation Action Plan (IFAP) to support the implementation of the Aotearoa Plan of Action. We encourage officials to develop a work program to guide the implementation of the updated plan.   17. We emphasize APEC’s important role in promoting structural reforms to increase economic growth. We reaffirm the value of Good Regulatory Practices (GRP) in fostering transparency, predictability, and efficiency in the regulatory environment. We welcome ongoing efforts to strengthen cooperation on standards, and streamline conformity assessment procedures across APEC economies. In this regard, we encourage economies to implement GRP and look forward to sharing innovative approaches that remove unnecessary barriers to trade while maintaining appropriate regulatory objectives.    18. We recognize the importance of the Bangkok Goals in promoting cooperation to advance circular economy approaches. We welcome the process under way to review the Reference List of Environmental and Environmentally Related Services. We further encourage discussions on how to foster trade in Environmental and Environmentally Related services.   19. We commit to taking concerted efforts to empower all facing structural barriers to achieve their economic potential. Recognizing important contributions of MSMEs and all people to economic growth, we commit to strengthening all of our people’s participation in regional and global markets by providing information tools and enhancing access to skill development. We recognize the Lima Roadmap to Promote the Transition to the Formal and Global Economies (2025-2040) as an initiative to broaden global trade participation and facilitate MSMEs’ resilient and sustainable growth and integration into the global economy and global supply chains. We reaffirm our dedication to the La Serena Roadmap for Women and Inclusive Growth (2019-2030), emphasizing the value of women’s active engagement in trade and economic activities to build a more dynamic Asia-Pacific community. We recognize the importance of women’s economic empowerment, including through access to capital, assets, markets, and leadership positions, including in line with relevant APEC initiatives including APEC principles and recommendations. We acknowledge the valuable contributions of Indigenous Peoples as appropriate to economic growth and welcome further dialogues and collaborative efforts focused on capacity building to increase their participation in regional and global markets.   20. We express our appreciation to the Republic of Korea for hosting this meeting and look forward to our continued collaboration throughout 2025.

Korea’s Ministry of Trade, Industry and Energy (MOTIE) is holding the Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) meeting from May 15–16 at the International Convention Center Jeju (ICC Jeju). As Korea is resuming APEC chairmanship in 20 years since 2005, Minister for Trade Inkyo Cheong is chairing the MRT meeting with the participation of trade ministers from 21 major economies in the Asia-Pacific region, including Australia, Canada, Chile, China, Japan, and the U.S., as well as the WTO Director-General and the OECD Deputy Secretary-General. Amid the rapidly shifting global trade environment, this year’s APEC MRT meeting is the trade ministers’ first official gathering for multilateral cooperation. Discussions will cover various trade issues and intraregional cooperation measures, such as the liberalization and facilitation of trade and investment. In line with the 2025 APEC theme of “Building a Sustainable Tomorrow: Connect, Innovate, Prosper,” the MRT meeting consists of three sessions on the following topics: AI innovation for trade facilitation, connection through multilateral trade, and prosperity through sustainable trade.  In the first session, participants address wide-ranging measures for cooperation to catalyze AI utilization in trade areas such as AI application and standard information sharing in the field of tariffs and customs, with OECD Deputy Secretary-General Yoshiki Takeuchi as the keynote speaker. The second session focuses on WTO reform and role of APEC in restoring the multilateral trade system, with WTO Director-General Ngozi Okonjo-Iweala speaking on WTO reform and future cooperation for multilateral trade. The last session on prosperity through sustainable trade, to convene on May 16, will have participants exchange views on measures for joint efforts in establishing a sustainable supply chain, including climate crisis response. In his opening message, Trade Minister Cheong noted the current difficult external environment surrounding APEC and stated that the need for APEC is greater than ever considering the severe global trade situation. He further expressed hope that this MRT meeting will serve as a platform for communication and cooperation that contributes to resolving political and economic tensions and uncertainties that the world is facing today.

-APEC Sub-Fund on Prosperity of Future Generations Endorsed-     The Second Senior Officials’ Meeting and Related Meetings of the Asia-Pacific Economic Cooperation (APEC SOM2), are currently being held in Jeju from Saturday, May 3 to Wednesday, May 16. More than 3,000 participants, comprising representatives from APEC’s 21 member economies, official observers, and the APEC Secretariat, convened in Jeju to participate in over ten key meetings, including the Senior Officials’ Meeting (SOM) as well as the Committee on Trade and Investment (CTI) and the SOM Steering Committee on ECOTECH (SCE), to explore avenues for enhanced regional collaboration.   ※ As the leading economic cooperation forum in the Asia-Pacific region, APEC brings together 21 member economies, including Korea, the United States, China, Japan, and the Russian Federation, to promote sustainable growth, regional integration, and shared prosperity.   ※ The Senior Officials’ Meeting (SOM) serves as a high-level consultative body where APEC member economies discuss matters of cooperation. It convenes four official meetings and one informal meeting each year, with the outcomes reported to the APEC Ministerial Meeting and APEC Economic Leaders’ Meeting.     - Korea is represented by Lee Jiyoon, Deputy Director-General for International Economic Affairs at the ROK Ministry of Foreign Affairs, in her capacity as Korea’s Senior Official.      Notably, during SOM2, all 21 APEC member economies endorsed the establishment of the APEC “Sub-Fund on Prosperity of Future Generations,” which aims to support young professionals’ participation in the economy and capacity building, recognizing the young generation as key drivers in advancing this year’s APEC theme, “Building a Sustainable Tomorrow.” At the APEC Economic Leaders’ Meeting held in Peru last November, Korea formally proposed the establishment of the “Sub-Fund on Prosperity of Future Generations” and pledged an initial contribution of USD 1 million to launch this initiative. The Fund is expected to support a wide array of projects, including: knowledge exchange among young professionals in education, science, and policy; capacity-building in emerging digital technologies such as ICT and artificial intelligence (AI), cloud computing, big data, and advanced manufacturing technologies; and the promotion of youth entrepreneurial ventures. In addition, it will provide support for policy research that responds to the needs and challenges facing the young generation such as issues related to demographic changes and environmental challenges. The Fund’s establishment will be finalized upon completion of the remaining administrative procedures within APEC.      Furthermore, Korea presented the key elements of its key deliverables for APEC 2025, namely “APEC AI Initiative” and “The Collaborative Framework for Demographic Changes in the APEC Community” during SOM2 and various sub-fora meetings. These elements are expected to serve as the basis for the outcome documents of the APEC Leaders’ Meeting later this year.      The proposed “APEC AI Initiative” aims to harness AI to accelerate economic transformation, foster resilient growth, drive technological advancement, and empower the workforce. This initiative envisions: providing strategic direction for successful AI transitions within APEC; building AI capacities across all sectors, including governments, businesses, workers, and consumers; and promoting a sustainable and robust ecosystem for AI-related infrastructure investment.      The proposed “The Collaborative Framework for Demographic Changes in the APEC Community” seeks to address population trends such as declining birth rates and population aging, which are shared challenges across the Asia-Pacific region. This initiative aims to turn these demographic challenges into opportunities for future growth and innovation by: promoting sustainable systems to support aging societies; fostering medical and technological innovation; and enhancing economic participation for women.     In conjunction with SOM2, a series of ministerial meetings were also held, including the Human Resources Development Ministerial Meeting (HRDMM) (May 11–13), the APEC Education Ministerial Meeting (May 13–15), and the Ministers Responsible for Trade (MRT) Meeting (May 15–16). At the HRDMM, a Joint Statement was adopted, outlining shared commitments to building sustainable labor markets and jobs for the future.     On the sidelines of SOM2, Korea held bilateral consultations with Senior Officials from China, Peru, Australia, the Russian Federation, and Chinese Taipei, engaging in broad discussions on key deliverables for APEC 2025 and agendas for ministerial meetings.     The Third Senior Officials’ Meeting (SOM3) is scheduled to take place in Incheon between July and August. Ahead of the APEC Economic Leaders’ Meeting later this year, eight sectoral ministerial meetings such as Digital & AI, Food Security, and Women and the Economy, along with two high-level dialogues, will be held as scheduled.