Vice Chairman Cho Hyun-sang of HS Hyosung to Lead APEC Economic Advisory Council

Appointment of ABAC Co-Chair
Meeting with Ministry of Trade Negotiations Chief Following Foreign Ministry

Vice Chairman Jo Hyun-sang of HS Hyosung (right) met with Jung In-kyo, Director General of Trade Negotiations (left), on the 31st of last month to discuss ABAC activities. Photo by HS Hyosung

Cho Hyun-sang, Vice Chairman of HS Hyosung, has officially begun his activities as a member of ABAC (APEC Business Advisory Council).

Appointed as an ABAC member last August, Vice Chairman Cho met with Cho Tae-yeol, Minister of Foreign Affairs, and Kang In-sun, Deputy Minister of Foreign Affairs, and on the 31st, he met with Jung In-kyo, Head of the Trade Negotiation Headquarters at the Ministry of Trade, Industry and Energy, to discuss the role and vision of ABAC in relation to the APEC (Asia-Pacific Economic Cooperation) meetings to be held in South Korea next year.

As the chairperson of ABAC for next year, Vice Chairman Cho will preside over major events such as the four annual 'ABAC meetings' and the 'Dialogue between ABAC members and APEC leaders.' The 'ABAC meetings' are committees composed of ABAC members from the 21 APEC member economies. They gather opinions from private companies to promote regional economic exchange and create recommendations for the leaders. These recommendations are ultimately delivered to APEC leaders through the 'Dialogue between ABAC members and APEC leaders' and are used to explore policy coordination and cooperation measures among member governments.

Vice Chairman Cho will attend the 2024 APEC Leaders' Meeting held in Peru this month as a co-chair of ABAC. He plans to review and finalize the ABAC recommendations developed throughout the year together with over 60 members from 21 countries and deliver them to the APEC leaders. As chairperson for next year, he will also attend major events such as announcing the theme and key tasks for the 2025 ABAC meetings and the operational plans including the composition of the chairmanship.

South Korea, the host country of APEC in 2025, will lead the promotion of economic cooperation in the Asia-Pacific region by hosting the APEC Leaders' Meeting in October next year, which will be attended by leaders from 21 member economies and about 1,000 global businesspeople, as well as presiding over more than 200 meetings.

Meanwhile, based on his extensive global network, Vice Chairman Cho has been actively engaged not only as an ABAC member but also as a director of the Business and Industry Advisory Committee (BIAC) to the OECD, and as chairman of the Korea-Vietnam Economic Cooperation Committee, playing an active role in business and private diplomacy.

Vice Chairman Cho was selected as a 'Next Generation Leader of Korea, China, and Japan' by the foreign ministries of the three countries in 2005, and in 2006, he was chosen as an 'Asia 21 Global Young Leader' by the Asia Society, established to promote understanding between the U.S. and Asia. Since 2006, he has consistently attended the Davos Forum, being recognized as a 'Next Generation Global Leader,' and has sought business cooperation opportunities with various global corporate executives.

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