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President Lee Jae-myung of South Korea chairs the primary session of the APEC financial leaders’ summit held on the Gyeongju Hwabaek Worldwide Conference Middle on Oct. 31, 2025. (Yonhap)
Throughout an tackle on the Asia-Pacific Financial Cooperation, or APEC, summit in Gyeongju on Friday, Korean President Lee Jae Myung mentioned that Korean historical past teaches that cooperation and solidarity are the one solutions to the most important modifications at present confronting the free commerce order.
“The quickly shifting world order stands at a serious inflection level,” Lee mentioned in the course of the first session of the APEC financial leaders’ assembly with visitors, which was held on Friday morning on the Gyeongju Hwabaek Worldwide Conference Middle.
“The free commerce order is coping with main modifications. The worldwide economic system faces growing uncertainty, and the impetus for commerce and funding is flagging. The technological revolution epitomized by synthetic intelligence is an unprecedented disaster that additionally gives unprecedented prospects,” Lee mentioned in his analysis of the present state of affairs.
“I consider that the solutions to the present disaster will be present in our journey to date. Cooperation and solidarity are the one solutions that can carry us to a brighter future,” Lee remarked.
“I acknowledge that we can’t at all times share the identical place when our respective nationwide pursuits are at stake. However we will come collectively across the final aim of attaining joint prosperity by way of collaboration,” he added.
Lee additionally famous that the APEC summit was being hosted by Korea for the primary time in twenty years, following the 2005 summit in Busan.
“At each second of APEC’s excellent achievements as a mannequin of multilateralism, Korea has been main the best way. Via our rising connections and openness, APEC members have been in a position to transfer ahead on the trail towards prosperity,” he mentioned.
“Because the launch of APEC, member states’ GDP has grown fivefold and their commerce has elevated tenfold, whereas Korea has risen as an financial energy. My hope is that the APEC spirit — which demonstrates the efficacy of cooperation, solidarity and mutual belief — will likely be on full show at Gyeongju,” he mentioned.
“Within the historic kingdom of Silla, there was a ‘Hwabaek’ convention at which numerous figures would come collectively to reconcile their disagreements,” Lee mentioned whereas mentioning “Gyeongju Hwabaek Worldwide Conference Middle,” the identify of the venue.
“The Hwabaek spirit of Silla didn’t demand uniformity of thought. Slightly, it sought a path of concord and coexistence, what is perhaps seen as a symphony of divergent voices being introduced into tune,” the Korean president mentioned.
“I sit up for us gaining the braveness and inspiration to maneuver ahead into the long run collectively in Gyeongju, the millennium-old capital whose prosperity was grounded in concord and harmony,” he mentioned.
By Um Ji-won, employees reporter; Goh Gyoung-ju, employees reporter
Please direct questions or feedback to [english@hani.co.kr]
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