Seoul: South Korea's business community on Thursday launched a promotion committee to support the government's preparations for the Asia-Pacific Economic Cooperation (APEC) CEO Summit set to be held in the country this year.
According to Yonhap News Agency, the Korea Chamber of Commerce and Industry (KCCI) announced that the committee, led by KCCI Chairman Chey Tae-won, will focus on efforts to invite key figures to the event. The APEC CEO Summit is expected to host around 1,000 government and business officials from across the globe.
Industry Minister Ahn Duk-geun highlighted the significance of the summit during the launch ceremony, stating, "The APEC CEO Summit will offer a venue for major global businesses to engage in communication and build partnerships." He emphasized the need to leverage the event as a vital opportunity to address challenging economic conditions both domestically and internationally.
Ahn urged businesses to utilize their networks and capabilities to attract global companies to the summit. The industry ministry also announced plans to support the invitation of global business leaders through overseas embassies and the Korea Trade-Investment Promotion Agency (KOTRA).
South Korea is slated to host the 2025 APEC summit in Gyeongju, approximately 270 kilometers south of Seoul, in November, along with several other side events. The ministry aims to use the summit as a platform to enhance the multilateral trade regime, expand free trade, and seek collaboration with major trade partners on sustainable development, supply chains, and artificial intelligence (AI).