Ancient Korean city of Gyeongju officially named host of 2025 APEC summit

Diplomacy

Published: 27 Jun. 2024, 15:04 Updated: 27 Jun. 2024, 19:12

Ancient Korean city of Gyeongju officially named host of 2025 APEC summit

Foreign Minister Cho Tae-yul speaks during a meeting of the preparation committee of the upcoming 2025 Asia-Pacific Economic Cooperation (APEC) summit at the Seoul Government Complex in Jung District, central Seoul, on Thursday. [MINISTRY OF FOREIGN AFFAIRS]

The city of Gyeongju was named the host city of the 2025 Asia-Pacific Economic Cooperation (APEC) summit in a final decision made Thursday.

The decision to select Gyeongju as the host city of the APEC summit was made during a second meeting of a preparation committee held at the Seoul Government Complex, the Foreign Ministry announced Thursday.

The final decision was made after evaluating the recommendation committee's suggestion made on June 21.

APEC is an annual economic forum that brings together 21 Asia-Pacific economies to discuss cooperation in trade and investment.

Founded in 1989, it is one of the oldest forums in the Asia-Pacific region, representing nearly 40 percent of the world’s population, 50 percent of global trade and over 60 percent of the worldwide economy. Around 6,000 officials and business figures attend the event during the summit period.

Korea will host the upcoming APEC summit next year for the first time in 20 years since Busan hosted the 2005 gathering. Incheon and Jeju Island competed for the nomination.

The preparation committee also decided Thursday that separate ministerial and senior management meetings during the APEC summit would be held in Incheon and Jeju Island to maximize the efforts of the two other candidate cities.

The committee plans to discuss ways to disperse various meetings to be held during the summit next year with relevant local governments in the months before the summit.

“We will systematically conduct the necessary preparatory work for the summit, including establishing a cooperation system with local governments,” said Foreign Minister Cho Tae-yul, who is also chairing the preparation committee.

Known for its well-preserved historic landmarks as the former capital of the ancient Silla kingdom (57 BC-935 AD), Gyeongju is a popular tourist destination domestically and internationally.

After Gyeongju was first recommended in a separate committee last week, banners congratulating the nomination were spotted across the city, and lawmakers and citizens from the area expressed excitement at the prospect of their city hosting the APEC summit.

BY LIM JEONG-WON [lim.jeongwon@joongang.co.kr]