Yoon stresses ‘interconnectivity’ in trade, digital sector at APEC CEO Summit

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Yoon stresses ‘interconnectivity’ in trade, digital sector at APEC CEO Summit

Published: 16 Nov. 2023, 09:24 Updated: 16 Nov. 2023, 10:27

SARAH KIM
kim.sarah@joongang.co.kr

Korean President Yoon Suk Yeol speaks at the APEC CEO Summit during the annual Asia-Pacific Economic Cooperation gathering at the Moscone West Convention Center in San Francisco, California, on Wednesday. [JOINT PRESS CORPS]

President Yoon Suk Yeol said Korea will contribute to the Asia-Pacific Economic Cooperation (APEC) as a "global pivotal country" at the APEC CEO Summit in San Francisco on Wednesday.

In his keynote address at the summit, he shared his vision for cooperation to enhance interconnectivity within the Asia-Pacific region in three major areas: trade, investment and supply chain, digital technology and future generations, the presidential office said in a statement.

Yoon noted that APEC has been working to lower regional trade barriers and that its role as a guardian of the multilateral trading system should be expanded.

He stressed that a "resilient supply chain is core to the multilateral trading system."

He then called for members to share their experiences in supply chain resilience, including establishing an early warning system within APEC.

Yoon said that in order to realize the digital era where connectivity and immediacy are the key, data must be seamlessly connected across borders, and the digital gap between countries must disappear.

"To this end, new norms and orders suitable for the digital age are needed," he added.

The CEO summit, a business forum held as a side event to the APEC gathering, was attended by some 1,200 people, including leaders of member countries, including the United States, Vietnam, Peru, Thailand and Chile, as well as leading business executives.

Earlier that day, Yoon met with a group of around 150 Koreans living in San Francisco, thanking them for their contributions to the Korea-U.S. alliance.

Yoon and first lady Kim Keon Hee arrived in San Francisco on Wednesday for a four-day trip to attend the APEC gathering.

Yoon is set to attend the 21-member APEC leaders' summit on Thursday.

Yoon and Japanese Prime Minister Fumio Kishida are scheduled to hold bilateral talks on the sidelines of the APEC gathering on Thursday, reported Kyodo News.

The two leaders are also scheduled to hold a discussion on cooperation on cutting-edge science and technology at Stanford University on Friday.

President Yoon Suk Yeol, left, and first lady Kim Keon Hee receive flowers from children at a luncheon with Korean residents in San Francisco on Wednesday. [JOINT PRESS CORPS]

BY SARAH KIM [kim.sarah@joongang.co.kr]