Uncertain APEC US-China Summit... Companies Anticipate AI Alliances

The Asia-Pacific Economic Cooperation (APEC) CEO Summit, scheduled for October 28, is being recognized as a stage where technology, capital, and markets converge in the global economy. Global economic leaders from 21 countries, including Jensen Huang of Nvidia, Sam Altman of OpenAI, and heads of major Chinese IT companies, will gather in one place to explore the future direction of industry.

Scene from the 2nd Meeting of the APEC Business Leaders Event Promotion Committee

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This summit, hosted by the Korea Chamber of Commerce and Industry, will run for four days until October 31. The event will kick off with a welcome dinner at 6 p.m. on October 28 at Hwarang Village in Gyeongju. From October 29, the main sessions will be held at Gyeongju Arts Center. Around the Gyeongju Hwabaek Convention Center (HICO) and Gyeongju Expo Grand Park, various side events such as business-to-business meetings, industry exhibitions, and global networking programs will take place.

The APEC CEO Summit is held ahead of the intergovernmental leaders’ meeting, providing an opportunity for the world’s leading business figures to proactively discuss economic agendas, earning it the reputation of an "economic summit." This year’s theme is "Bridge, Business, Beyond," emphasizing the concept of "Bridge" that connects technology, markets, and capital. Under this theme, business leaders from each country will share and seek cooperation strategies on industrial transformations such as artificial intelligence (AI), semiconductors, digital transformation, and energy transition. The official sessions will cover seven topics, including AI and semiconductor mega infrastructure financing, digital transformation and data regulation, energy transition and sustainable growth, and responses to protectionism.

Speakers include Jane Fraser, CEO of Citigroup; Joaquin Duato, Chairman and CEO of Johnson & Johnson; David Hill, CEO of Deloitte Asia-Pacific; John Denton, Secretary General of the International Chamber of Commerce (ICC); Anna Bjerde, Managing Director of Operations at the World Bank (WB); and Kevin Xu, CEO of Mevo Group. Leaders representing sectors such as finance, manufacturing, consulting, and platforms will participate to share insights on industrial structural changes and corporate strategies in response to the rise of AI and digital transformation.

From Korea, Oh Kyungseok, CEO of Dunamu; Kim Sanghyun, Vice Chairman of Lotte Shopping; and Park Seongho, Professor at Seoul National University Business School, will present. Figures representing industry, academia, and new industries will come together to propose Korea’s role and directions for cooperation. Deloitte will participate as the official knowledge partner of this summit, taking charge of agenda design and publishing an insights report.

During the same period, the "Future Tech Forum," hosted by SK Group, will be held at Munmu Hall in Gyeongju Expo Grand Park. This separate session will discuss the direction of future technologies such as AI, semiconductors, and energy transition, providing a venue for companies, government, and academia to share visions for future industries. Chey Tae-won, Chairman of the Korea Chamber of Commerce and Industry and Chairman of SK Group, will deliver a keynote speech outlining a framework for cooperation to build a sustainable AI ecosystem in the Asia-Pacific region.

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This summit is drawing attention because it is being held at a pivotal moment when the global industrial order is being reorganized around AI. According to Bloomberg, in the past month (from September 8 to October 9), there have been 10 cases of AI-related cooperation agreements among global conglomerates. Including the strategic partnerships OpenAI has signed with Samsung Electronics and SK Group, the total rises to 11. The nature of these collaborations is evolving beyond simple investment or technology exchange toward forming "AI alliances" that share data, infrastructure, and entire ecosystems.

The Korea Chamber of Commerce and Industry plans to support Korean companies in establishing themselves as key partners in global alliances in AI, semiconductors, and digital infrastructure. Major corporations such as SK Group, Samsung Electronics, LG, and Hyundai Motor Group are expected to expand discussions on cooperation with global companies, seeking new investments and technology partnerships. The summit will conclude with the closing ceremony on October 31, but the following day, the APEC Economic Leaders’ Meeting will commence with the participation of national leaders, moving key agendas to the stage of intergovernmental negotiations.

Yoo Jongcheol, Director of the APEC Cooperation Center at the Korea Chamber of Commerce and Industry, stated, "We have established a framework for discussions centered on key global economic agendas such as regional economic integration, digital, bio-healthcare, finance, and sustainable growth," adding, "It will be an opportunity to collectively explore the broad direction of how new technologies, including AI, will reshape the global economic order."

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