Jung Min-ho has worked as a staff writer at The Korea Times since 2012, mostly covering social and political issues. He currently belongs to the Politics & City Desk where he covers topics such as health, labor and human rights. Prior to joining the team, he was responsible for covering North Korea and sports. His article about a biosecurity breach of Middle East respiratory syndrome won him an award from the Korea Science Journalists Association in 2016. He is also the co-author of the book, "Medical Pioneers of Korea" (2019). He served as the head of the international relations committee at the Journalists Association of Korea from 2021 to 2023.
Lee welcomes business leaders, emphasizes 'wisdom of connection' for world economy
President Lee Jae Myung speaks during the Asia-Pacific Economic Cooperation (APEC) CEO Summit at the Gyeongju Arts Center, Gyeongju, North Gyeongsang Province, Wednesday. Yonhap
By Jung Min-ho
APEC CEO Summit spotlights Korea’s vision for multilateralism, AI-driven growth
President Lee Jae Myung warmly welcomed global business leaders gathered in the historic city of Gyeongju, North Gyeongsang Province, Wednesday, highlighting Korea’s commitment to international economic cooperation and emphasizing the importance of multilateralism in confronting challenges.
Speaking at the Asia-Pacific Economic Cooperation (APEC) CEO Summit held in Hwarang Hall at Gyeongju Arts Center, Lee emphasized the “wisdom of connection” when it comes to the world economy, saying that his country will lead the way in multilateral cooperation to face current crises.
“The APEC summit held in Busan 20 years ago marked a key turning point not just in its history, but also in the history of the free trade system,” Lee said. “But today’s external environment is much different than it was back then. As protectionism and national prioritization are on the rise, survival has become an urgent priority (for many nations), so calls for inclusiveness and mutual growth may sound hollow now.”
Yet, in such crises, he said the role of APEC as a platform of solidarity and collaboration must shine even brighter.
“Cooperation in supply chains lies at the heart of this,” Lee said, citing a traditional Korean wooden architectural element known as “sumaksae” ― unique roof tiles that interlock tightly to protect buildings from wind and rain. “Just as these diverse pieces come together to form a sturdy roof, linking human, material and institutional systems will build the protective roof that drives APEC’s growth and prosperity.”
Lee also referenced the popular film about fictional K-pop singers, “KPop Demon Hunters,” underscoring how stars and fans unite strongly to fight darkness, symbolizing that solidarity and cooperation will lead to a brighter future.
The event attracted some of the biggest names in business, with SK Group Chairman Chey Tae-won, who also serves as chairman of the 2025 APEC CEO Summit and the Korea Chamber of Commerce and Industry, Samsung Electronics Executive Chairman Lee Jae-yong and Hyundai Motor Group Executive Chair Chung Euisun, among the more than 1,700 global business leaders from 21 member economies participating.
The president also introduced Korea’s vision for artificial intelligence (AI), expressing hope that “AI for all” will become a new standard for APEC.
“Today, the core of innovation is AI. Korea discussed the introduction of AI in customs and explored AI technology and standards at the ministers’ meeting in May, laying the groundwork for cooperation in its practical application,” Lee said. “Here, we have Cheomseongdae, an ancient observatory that used data to read the movements of stars. Just as Cheomseongdae served as an engine of wisdom in its time, so too will AI become the engine of intelligence for our future.”
SK Group Chairman Chey Tae-won, also chairman of the 2025 APEC CEO Summit and the Korea Chamber of Commerce and Industry, gives his opening speech at the Gyeongju Arts Center, Gyeongju, North Gyeongsang Province, Wednesday. Yonhap
During his opening address at the event, Chey said Gyeongju was “the Silicon Valley of Asia 1,000 years ago,” emphasizing the city’s historical significance as a regional hub for culture, trade and science.
He said today’s world economy stands on the verge of “a massive transformation,” amid the waves of supply chain reorganization, AI innovation and climate change, among many other challenges.
“The APEC CEO Summit is not just a venue to discuss economic issues, but a platform for action and cooperation,” Chey said. “It goes beyond the boundaries of any one country or company, requiring all economies and businesses of APEC member states to act together.”