SK Group Chairman Chey Tae-won: APEC Summit to Tackle Rising Global Protectionism
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Seoul, October 26 (TheTrendingPeople.com):
As South Korea prepares to host the Asia-Pacific Economic Cooperation (APEC) CEO Summit 2025, SK Group Chairman Chey Tae-won emphasized that the gathering will serve as a crucial platform for global businesses to find ways to navigate rising protectionism and trade barriers.
Speaking to reporters during a joint interview with YouTube channels on Sunday, Chey said, “The APEC CEO Summit will serve as a venue where 1,700 participants will seek answers in the era of protectionism.”
The summit, organized by the Korea Chamber of Commerce and Industry (KCCI), will be held in Gyeongju from Tuesday to Friday, on the sidelines of the APEC Leaders’ Summit. The high-level event is expected to draw business leaders, policymakers, and delegates from all 21 APEC member economies, including the United States, China, and Japan.
A Crucial Moment for Global Trade
Chey highlighted the growing uncertainty in international trade, particularly amid the ongoing U.S.–China tensions, and said the APEC forum would be key in addressing the economic challenges emerging from this rivalry.
“The leaders of APEC members, including U.S. President Donald Trump and Chinese President Xi Jinping, are set to hold discussions on various agendas,” Chey noted. “The APEC Summit is especially significant as it will offer clues on how issues between the United States and China may unfold over the next few years.”
Trump and Xi are widely expected to hold their first face-to-face meeting during the APEC event, amid heightened global interest in how the two largest economies plan to address their trade differences.
Call for Regional Cooperation
Turning to South Korea’s economic outlook, Chey urged Seoul to deepen cooperation with Japan to overcome global economic fragmentation and build resilience against protectionist trends.
“Free trade cannot be restored under the World Trade Organisation regime as it was in the past,” Chey said. “Export-oriented growth, which has continued since the 1960s, no longer functions due to tariffs.”
He further explained that South Korea and Japan could jointly create an economic bloc worth approximately US$6 trillion, combining industrial strengths and market capacities to tackle external uncertainties.
Investing in the Future: AI as the New Economic Frontier
Chey underscored that artificial intelligence (AI) will be a central pillar of global competitiveness in the coming years. He likened the ongoing AI investment race between the U.S. and China to the Cold War-era arms competition, warning that South Korea must not fall behind.
“Despite geopolitical uncertainties, we need to continue making necessary investments,” Chey said. “Falling behind in the AI sector poses a significant risk, and we intend to continue making related investments.”
Experts note that SK Group has been expanding its AI initiatives across multiple industries — from semiconductor research to digital energy systems — positioning itself as one of Asia’s most forward-looking conglomerates in the technology sector.
Why It Matters
The upcoming APEC CEO Summit in Gyeongju marks a pivotal opportunity for dialogue among business leaders and governments to address economic nationalism, promote sustainable growth, and strengthen collaboration in emerging sectors such as AI and green energy.
With 21 major economies in attendance, the summit’s discussions are expected to influence future trade frameworks, investment trends, and global digital transformation policies.
For South Korea, the event reinforces its growing role as a strategic economic mediator in the Asia-Pacific region, balancing relationships between Washington, Beijing, and Tokyo.
Background
The Asia-Pacific Economic Cooperation (APEC) was established in 1989 to promote free trade and economic cooperation among nations bordering the Pacific Ocean. Member economies account for nearly 60% of global GDP and half of world trade, making APEC one of the most influential regional forums in the world.
South Korea last hosted the APEC Leaders’ Summit in 2005, and this year’s event marks its return as a central stage for economic diplomacy and innovation.
The 2025 APEC CEO Summit’s agenda includes discussions on supply chain resilience, AI regulation, green transition, and inclusive digital trade, reflecting the pressing challenges of a rapidly evolving global economy.
Final Thoughts from TheTrendingPeople.com
As nations struggle to balance protectionism with the need for open markets, the APEC CEO Summit 2025 could become a defining moment for shaping the future of global trade and technological cooperation.
Chey Tae-won’s remarks underscore a broader message — that innovation, collaboration, and resilience will be key to sustaining economic growth in an increasingly divided world.
The outcomes of this summit will not only shape the Asia-Pacific trade landscape but may also influence how global economies redefine partnership in the age of uncertainty.