About APEC 2025 KOREA

- Kim Hee-sang, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs of the Republic of Korea, attended a session on APEC at the 2025 BFA Annual Conference and held high-level economic consultations with China on the sidelines of this conference.   1. Kim Hee-sang, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs, visited China from March 25 to 27 to attend the 2025 Boao Forum for Asia (BFA) Annual Conference, held in Boao, Hainan Province. On the second day of the conference, March 26, he participated as a panelist* in the session titled “Revitalizing APEC: Meeting Challenges and Sharing Opportunities Together,” where he introduced Korea’s initiatives and activities as this year’s APEC host.   *(Panelists, 6 in total) ▲ KIM Hee-sang, Deputy Minister for Economic Affairs at the Ministry of Foreign Affairs of the Republic of Korea ▲ Jenny SHIPLEY, Former Prime Minister of New Zealand ▲Carlos VASQUEZ, Senior Officials’ Meeting (SOM) Chair of APEC 2024 ▲WONG Kan Seng, Former Deputy Prime Minister of Singapore ▲Claus RETTIG, Member of the Extended Executive Board & President of Asia Pacific, Evonik Industries AG ▲Warwick SMITH, Fellow, Australian Institute of International Affairs   2. Furthermore, on the occasion of his visit to China, Deputy Minister Kim also visited Beijing, where he held consecutive meetings on March 27 with Vice Minister Yan Dong of China’s Ministry of Commerce and Director-General Bai Tian of the Department of International Economic Affairs at China’s Ministry of Foreign Affairs. In these meetings, both sides exchanged extensive views on strengthening economic cooperation, such as enhancing high-level exchanges and stabilizing supply chains, with Korea and China set to consecutively serve as host economies for APEC in 2025 and 2026, respectively.   3. Specifically, during the APEC session of the conference, Deputy Minister Kim highlighted APEC’s growing significance in addressing new global challenges such as geoeconomic shifts and the emergence of new technologies, amid rising uncertainties in the global order. He emphasized APEC’s role as an open forum that fosters creative solutions through discussions among member economies, as well as enables business networking and delivers tangible outcomes via the APEC Business Advisory Council (ABAC) mechanism. Furthermore, he underscored that Korea, as this year’s APEC host, is working to produce key deliverables at the upcoming Economic Leaders’ Meeting, with its principal focus on AI and demographic changes. He also reaffirmed Korea’s commitment to close cooperation with China, which will be next year’s APEC host.   ※ As this year’s APEC host, Korea has selected “Building a Sustainable Tomorrow: Connect, Innovate, Prosper” as the theme and priorities for APEC 2025, with AI cooperation and responses to demographic changes as deliverables.   4. The session panelists developed a shared understanding on the significance of APEC’s unique attributes including its voluntary, non-binding, and consensus-based decision-making framework and business engagement, as well as its importance as the largest economic cooperation forum in the Asia-Pacific region. In this context, the panelists expressed high expectations for the APEC Economic Leaders’ Meeting in Gyeongju later this year, anticipating in-depth discussions among key Asia-Pacific economies on critical regional issues facing the Asia-Pacific region such as supply chains, digitalization & AI, and demographic challenges.   5. On March 27, Deputy Minister Kim met with Vice Minister Yan Dong of China’s Ministry of Commerce in Beijing. During the meeting, both sides agreed to work together to strengthen economic cooperation between the two countries by ▲creating a predictable and reliable business environment for companies operating in both markets, and through this, enhancing bilateral trade and investment cooperation, ▲continuing collaboration on supply chain including the secure management of key commodities such as critical minerals and urea, and ▲accelerating follow-up negotiations on the Korea-China FTA in the services and investment sectors. Deputy Minister Kim also emphasized the need for Korea and China to strengthen economic cooperation both bilaterally and multilaterally, particularly amid rising global economic uncertainties. To this end, he suggested that both countries continue close communication through cooperation channels such as the Korea-China Joint Economic Committee.   6. On the same day, Deputy Minister Kim met with Director-General Bai Tian of the Department of International Economic Affairs at China’s Ministry of Foreign Affairs. Both sides agreed on the importance of cooperation not only at the bilateral level but also within regional and multilateral fora such as APEC and the G20, and pledged to actively collaborate on areas of mutual interest. Additionally, given that Korea and China will consecutively host APEC in 2025 and 2026, respectively, both sides agreed to maintain close communication to ensure the successful hosting of the two APEC Economic Leaders’ Meetings.   7. Meanwhile, during his visit to Beijing, Deputy Minister Kim also held a separate meeting with the heads of Korean public institutions in charge of economic, trade, and investment affairs based in Beijing. He paid close attention to concerns related to the investment and business environment for Korean companies in China, and exchanged views on strengthening support for Korean firms entering the Chinese market amid U.S.-China competition as well as on long-term strategies for Korea-China economic cooperation.   ※ Participants: Head of Korea Trade-Investment Promotion Agency (KOTRA) China Office, Head of the Beijing Office of the Korea International Trade Association (KITA), Head of the China Office of the Korea Mine Rehabilitation and Mineral Resources Corporation (KOMIR), Head of the Beijing Representative Office of the Korea Trade Insurance Corporation (K-SURE), Head of the Beijing Office of the Korea Chamber of Commerce and Industry (KCCI), and Head of the Beijing Office of the Korea SMEs and Startups Agency (KOSME)   8. Deputy Minister Kim’s visit to China was seen as an opportunity to reaffirm the mutual understanding that, in the face of increasing uncertainties in the global economic environment, it is important for Korea and China to maintain close communication at all levels and enhance mutual trust to advance economic cooperation at the bilateral, regional, and global levels. Going forward, the Korean government plans to continue identifying areas of cooperation and make every diplomatic effort to foster a more mature and future-oriented Korea-China relationship.

First Senior Officials’ Meeting of APEC 2025 Successfully Held in Gyeongju   1. From February 24 to March 9, the First Senior Officials’ Meeting (SOM1) and related meetings of Asia-Pacific Economic Cooperation (APEC) 2025 were successfully held in Gyeongju, Korea, led by APEC SOM Chair Yoon Seongmee. The Korean government, this year’s APEC host economy, proposed “Artificial Intelligence (AI) Cooperation” and “Response to Demographic Changes in the Asia-Pacific Region” as key deliverables.   ※ APEC is the largest economic cooperation forum in the Asia-Pacific region, comprising 21 member economies including Korea, China, Japan, the Russian Federation and the United States.   ※ The Senior Officials’ Meeting (SOM) serves as APEC’s high-level consultative body for discussions among its member economies on cooperation agendas. It is held four times and once annually in the form of formal and informal meetings, respectively, with their outcomes reported at the APEC Economic Leaders’ Meeting and Ministerial Meeting.   - Korea was represented by Lee Jiyoon, Deputy Director-General for International Economic Affairs at the Ministry of Foreign Affairs, in her capacity as Senior Official.   2. At the first official APEC event of 2025, Korea outlined two key deliverables for APEC-wide cooperation this year -- “AI Cooperation” and “Response to Demographic Changes” including challenges such as declining birth rates and aging populations.   3. Regarding AI, Korea proposed guiding principles to harness the limitless potential of AI in an inclusive and sustainable manner. With respect to demographic changes, Korea presented collaborative initiatives through which to turn demographic challenges into opportunities. Member economies welcomed these priorities, recognizing them as timely and relevant since these challenges are faced across the Asia-Pacific region. In that light, they expressed their strong interest in and support for Korea’s initiatives.   4. This event in Gyeongju consisted of a total of 24 meetings, including SOM1 (March 8-9); meetings of the Committee on Trade and Investment (CTI), the SOM Steering Committee on Economic and Technical Cooperation (SCE), the Budget and Management Committee (BMC), and the Economic Committee (EC); and various sub-fora meetings. An APEC Finance and Central Bank Deputies’ Meeting was also convened. These meetings brought together approximately 2,000 participants, including delegations from all 21 APEC member economies and the APEC Secretariat.   5. Throughout the meetings held over two weeks, APEC members discussed concrete initiatives and action plans to achieve this year’s theme and priorities -- “Building a Sustainable Tomorrow: Connect, Innovate, Prosper” -- followed by a comprehensive review at SOM1 on the last two days of the event.   6. On the sidelines of the multilateral meetings, SOM Chair Yoon Seongmee and Senior Official Lee Jiyoon held bilateral meetings with senior officials from Canada, China, Japan, Malaysia, New Zealand, Peru, the Russian Federation, Singapore, Chinese Taipei, Thailand and the United States. During the bilateral meetings, these member economies expressed strong support for Korea’s theme, priorities and key deliverables, as well as high expectations for Korea’s leadership as the host of APEC 2025 amid the rapidly evolving global dynamics of late.   7. Additionally, Korea held a “Troika” meeting with Peru and China, the previous and next APEC host economies, respectively, during which the three sides agreed to work closely together for a successful implementation of this year’s agenda and a continuity in APEC’s long-term efforts.   8. SOM1 also served as an opportunity to introduce to APEC members Gyeongju, the host city for the APEC Economic Leaders’ Meeting in the second half of 2025. Participants praised the conference facilities, the progress in the preparation efforts, the seamless organization, and the hospitality provided for delegations. Gyeongju’s rich historical and cultural heritage also received high appreciation.   9. Looking ahead, Korea will hold SOM2 in Jeju (May) and SOM3 in Incheon (July-August) as well as 11 sectoral ministerial meetings and 2 high-level dialogues covering ocean-related affairs, human resources, education and trade, between those two SOMs. APEC 2025 will wrap up with the APEC Economic Leaders’ Meeting in the second half of the year.

1. The official website for APEC 2025 KOREA was launched on February 20, 2025, ahead of the First Senior Officials’ Meeting (SOM1), which will take place in Gyeongju from February 24 to March 9.   2. The website (www.apec2025.kr) features an introduction to APEC as well as the theme and priorities of APEC 2025 KOREA, relevant notices, and information on its host cities including Gyeongju, Jeju, Incheon and Busan. It will serve as a key platform for sharing information on SOMs and sectoral ministerial meetings to be held across the country in preparation for the upcoming APEC Economic Leaders’ Meeting (AELM).   3. Following SOM1, official social media channels will also be launched to provide diverse and relevant information, including details on interactive events designed to encourage public participation.   4. With the launch of the website, the Preparatory Office for APEC 2025 aims to provide timely and accurate information about APEC 2025 KOREA, ensuring that it becomes an event that actively involves and engages the public.

- The first meeting presided over by Acting President and Deputy Prime Minister Choi Sang-mok, who also serves as the Minister of Economy and Finance, reviewed the current preparation status and discussed future plans for APEC 2025 KOREA. - - Acting President Choi urged ministries, provincial governments, and businesses to cooperate and coordinate as one team to ensure timely and successful preparation. –   1. The fifth meeting of the Korea APEC 2025 Organizing Committee, chaired by Acting President and Deputy Prime Minister Choi Sang-mok, who also serves as the Minister of Economy and Finance, was held in the Government Complex Seoul at 14:00 on Wednesday, January 22, 2025.   ※ The “Korea APEC 2025 Organizing Committee” was established in accordance with the "Regulations on the Establishment and Operation of the Organizing Committee and Preparatory Office for APEC 2025 (Presidential Decree No. 459, which took effect on August 17, 2023).“   ※ The Committee serves as a major decision-making body, reviewing plans and other key matters pertaining to the APEC Economic Leaders’ Meeting (AELM) and other related meetings.   2. Today’s meeting, presided over by Acting President Choi Sang-mok for the first time, discussed and reviewed the current preparation status and future plans for the AELM's infrastructure, business events, cultural programs, etc.   3. The Acting President emphasized that the APEC 2025 KOREA provides an important opportunity to witness Korea’s elevated international standing and strengthen the trust and support of the global community, as it is one of the largest multilateral diplomatic events hosted in Korea since the G20 Summit in 2010 and the Nuclear Security Summit in 2012.   4. Acting President Choi further urged the Ministry of Foreign Affairs, other relevant ministries, provincial governments, and businesses to communicate and collaborate closely, ensuring the timely and speedy preparations for the AELM and related meetings in the remaining time while maintaining readiness in the face of any domestic or international challenges.   5. The participants underscored the necessity of seamless preparations for key infrastructure, such as meeting venues and accommodations, as well as the participation of leaders of major economies and prominent global business leaders. The participants also agreed to work in close coordination to ensure the successful hosting of the 2025 APEC KOREA.   6. Meanwhile, Korea took its first step as the host economy by successfully hosting the Informal Senior Officials’ Meeting (ISOM) in Seoul last December. This year, alongside the AELM in Gyeongju, around 200 meetings at various levels and across diverse sectors will be held nationwide. During the APEC Economic Leaders’ Week (AELW), the CEO Summit and the APEC Business Advisory Council (ABAC) meeting, featuring leading global business leaders, will also take place.   ※ Senior Officials’ Meetings (SOMs) and sectoral ministerial meetings will be held in Gyeongju (from February to March), Busan (in April and August), Jeju (in May), and Incheon (from July to August), leading up to the AELW, during which the Concluding Senior Officials’ Meeting (CSOM), the APEC Ministerial Meeting (AMM), the AELM, and business events will be held.   7. Acting President Choi Sang-mok stressed the significance of business events in facilitating meaningful business networks for domestic companies. He further called for active engagement from the private sector, particularly recognizing the leadership of Chairman Chey Tae-won of the Korea Chamber of Commerce and Industry (KCCI) and Vice Chairman Cho Hyun-sang of HS Hyosung Group in leading the relevant events.   8. Building on the outcome of today’s meeting, the government will carry out meticulous preparations for the AELM, which will be hosted for the first time in 20 years in Korea, to ensure that it becomes a magnificent economic and cultural event, driving regional economic cooperation while highlighting Korea’s outstanding culture on the global stage.