CEO Summit Keynote Speech by Yoon: "Supply Chains Are Core to Multilateral Trade" (Comprehensive)

Yoon Attends APEC Summit
Delivers Keynote Speech at CEO Summit
Emphasizes "Connectivity" as "Top Priority"
Two Wars and Tech Hegemony Accelerate Economic Bloc Formation... "Asia-Pacific Threat"

President Yoon Suk-yeol stated on the 15th (local time) during his visit to the United States to attend the Asia-Pacific Economic Cooperation (APEC) summit that "APEC must take the lead in accelerating the world's economic 'connectivity'." He emphasized the connectivity of trade, investment, and supply chains within APEC, saying this should be pursued as "APEC's top priority cooperation agenda."

In his keynote speech at the APEC CEO Summit held in conjunction with the APEC summit that afternoon, President Yoon said, "Resilient supply chains are the core of the multilateral trading system."

President Yoon Suk-yeol, who visited the United States to attend the Asia-Pacific Economic Cooperation (APEC) Summit, is delivering a keynote speech at the APEC CEO Summit held at the Moscone Center in San Francisco on the 15th (local time).
[Photo by Yonhap News]

Reflecting on APEC's 30-year history, President Yoon evaluated that "APEC, as the world's largest cooperation body in name and reality, has served as the vanguard defending the global free trade order, demonstrating leadership by responding most swiftly to global crises and leading the world economic recovery." He added, "Today, the global economy faces yet another enormous challenge," analyzing that "the power of connectivity is weakening, and forces of fragmentation are gaining strength in many places."

He identified two wars?the Ukraine war and the Israel-Hamas conflict?along with technological hegemony and supply chain risks as factors accelerating the 'global economic blocization.' Regarding supply chain risks, he diagnosed that "they pose threats to Asia-Pacific countries that have developed through free trade."

As solutions, he proposed three measures: ▲strengthening connectivity in trade, investment, and supply chains ▲enhancing digital interconnectivity ▲expanding exchanges among future generations. Given the complex crises caused by fragmentation such as the US-China hegemonic competition, the pandemic, the Ukraine war, and the Israel-Palestine armed group Hamas conflict, restoring 'connectivity' is the top priority. In particular, President Yoon's plan is for APEC, the largest international organization in the Asia-Pacific region that accounts for 38% of the world's population, 62% of global GDP, and 48% of trade volume, to take the lead.

He also proposed measures to ensure that the entire world can enjoy digital benefits without discrimination. President Yoon said, "To realize the digital deepening era where connectivity and immediacy are key, data must flow across borders without obstruction, and digital gaps between countries must disappear." He added, "For this, new norms and orders suitable for the digital age are necessary, and APEC, with its diverse member countries in terms of economic development levels as well as social, cultural, and geographical characteristics, must play an important role."

President Yoon also introduced South Korea's specific contribution plans, stating that he intends to actively participate in international discussions to establish digital norms based on the Digital Rights Charter announced last September. In September, during his visit to New York for the UN General Assembly, President Yoon unveiled the Digital Rights Charter embodying the principles of freedom, fairness, safety, innovation, and solidarity.

President Yoon Suk-yeol, who visited the United States to attend the Asia-Pacific Economic Cooperation (APEC) Summit, is delivering a keynote speech at the APEC CEO Summit held at the Moscone Center in San Francisco on the 15th (local time).
[Photo by Yonhap News]

He also emphasized the importance of active exchanges among future generations to discover innovative ideas and create new business opportunities. This means that for the Asia-Pacific economy to maintain connectivity beyond the present and into the future, active exchanges among youth are crucial. President Yoon proposed, "Let us discuss at the APEC level a 'Youth Scientist Exchange Initiative' (tentative name) to enable young people in the Asia-Pacific region who have obtained degrees in science and technology and are engaged in research and development to freely travel and exchange within member countries." A notable point in the future generation sector is that one-third of the APEC region's population is under 24 years old. Specific measures include visa exemptions and expedited immigration support when visiting APEC member countries for attending academic conferences, workshops, and planning research and development."

Meanwhile, the APEC CEO Summit attended by President Yoon on the day is a business forum held as a side event of the APEC summit. This year, it was hosted by the National Center for APEC, which serves as the secretariat of the APEC Business Advisory Council (ABAC) of the host country, the United States, under the theme of "Sustainability, Inclusiveness, Resilience, and Innovation." The event was attended by 1,200 people, including heads of state from APEC member countries such as the United States, Vietnam, Peru, Thailand, and Chile, as well as Alfred Kelly, Chairman of Visa; Cristiano Amon, President of Qualcomm; and Satya Nadella, CEO of Microsoft.

This content was produced with the assistance of AI translation services.