South Korean President Lee Jae Myung chaired the opening session of the Asia Pacific Economic Cooperation (APEC) Leaders’ Meeting on the morning of October 31 in Gyeongju, North Gyeongsang Province, Korea Times reports. The gathering began at 10 am, bringing together heads of government from all 21 APEC member economies, along with invited guests such as Khalid, Crown Prince of Abu Dhabi, and Kristalina Georgieva, Managing Director of the International Monetary Fund.

The first session carries the theme Towards a More Connected, Resilient Region and Beyond and is designed as an informal exchange among leaders. The discussions focus on improving regional links, boosting economic resilience, and exploring shared opportunities in an increasingly uncertain global environment.

President Lee opened the meeting by reflecting on South Korea’s contribution to the forum since its early days. He reminded participants that South Korea played a key role in shaping APEC’s institutional framework through the Seoul Declaration in 1991, the organisation’s founding statement. He also pointed to the 2005 APEC Summit in Busan, where member economies endorsed the Busan Roadmap as a joint commitment to advance free trade and economic integration throughout the Asia Pacific.

He highlighted how cooperation within APEC has delivered significant progress over the past decades. Since the forum was established, the combined economic output of the region has expanded fivefold, and trade between members has increased tenfold. According to President Lee, this success stems from sustained collaboration and trust between the economies involved.

Despite these achievements, he warned that the current international climate poses new challenges. He referred to shifts in the global order, questioning the stability of the free trade system and noting that growing economic fragmentation threatens investment flows. He also mentioned artificial intelligence as a factor that could either accelerate growth or widen existing gaps.

According to Korea Times, President Lee encouraged participants to build on shared interests while recognising their distinct national priorities. He expressed conviction that collective action and solidarity are essential for sustaining economic prosperity.

Before the session began, President Lee personally greeted each leader as they arrived. During the dialogue, he continued engaging counterparts from economies including Australia, Canada, China, Japan, the United States, and members from Southeast Asia and Latin America. Discussions centre on boosting trade and investment, improving regional connectivity, and encouraging collaboration between governments and the private sector. Through these efforts, South Korea aims to revitalise APEC’s role as a key platform for future economic cooperation across the Asia Pacific.