APEC CEO Summit kicks off in South Korea

By Berk Kutay Gokmen

ISTANBUL (AA) - The Asia-Pacific Economic Cooperation (APEC) CEO Summit, a business-focused event running alongside the APEC Leaders' Summit in Gyeongju, South Korea, officially kicked off Wednesday to address key topics like artificial intelligence (AI) and energy transition, Yonhap News Agency reported.

Hosted by the Korea Chamber of Commerce and Industry (KCCI), the summit will continue through Friday under the theme "Bridge, Business, Beyond," providing a platform for in-depth discussions on global challenges and exploring opportunities for collaboration among major international business leaders.

Notable attendees include Nvidia CEO Jensen Huang, Amazon Web Services CEO Matt Garman, Google's Chief Marketing Officer for Asia Pacific Simon Kahn, Citigroup CEO Jane Fraser and Johnson & Johnson CEO Joaquin Duato.

From South Korea, key figures like SK Group Chairman Chey Tae-won, who is also chairman of the Korea Chamber of Commerce and Industry (KCCI), Samsung Electronics Executive Chairman Lee Jae-yong, Hyundai Motor Group Executive Chair Euisun Chung, and LG Group Chairman Koo Kwang-mo are also scheduled to participate.

The summit will feature special addresses by leaders from APEC member economies, including US President Donald Trump, Indonesian President Prabowo Subianto, Vietnamese President Luong Cuong, Japanese Prime Minister Sanae Takaichi, and Australian Prime Minister Anthony Albanese.

South Korean President Lee Jae Myung also gave a special address at the opening ceremony, outlining South Korea's vision for advanced industries and sustainable growth.

"At a time when protectionism and policies focused on national interests are resurging and when immediate survival is the foremost concern, talk of cooperation, mutual growth and inclusive development may sound hollow," said Lee, noting that South Korea "aims to lead the path of multilateral cooperation to confront these crises."

"During the upcoming summit, we will propose an AI initiative, hoping that the vision of 'AI for All' can take root as the new normal within APEC," he added.

In his opening remarks, SK Group’s Chey said "the global economy is now going through a massive wave of transformation and we are facing many challenges at this point, like the supply chain shift, competition for AI technologies, digital transformation and the climate crisis."

He added that "this year's APEC summit will be where we discuss solutions to these challenges."

The KCCI announced that this year's summit is the largest APEC business gathering to date, attracting around 1,700 global business leaders.

On Thursday, the summit will feature six sessions covering topics such as supply chains, semiconductors, digital health and hydrogen, including a session on the global economic outlook led by International Monetary Fund (IMF) Managing Director Kristalina Georgieva.

Friday will include five sessions, with discussions on data centers, health care and the energy transition. Nvidia CEO Huang will deliver a keynote speech on the future of the AI industry to close out the three-day event.

The KCCI estimates that the summit will generate an economic impact of 7.4 trillion won ($5.16 billion) and create 22,000 new jobs.