Gyeongju: Senior officials from the Asia-Pacific Economic Cooperation (APEC) member economies have convened in the southeastern city of Gyeongju for this week's APEC summit, amidst ongoing tensions over global trade and supply chain disruptions.
According to Yonhap News Agency, the APEC gathering commenced with a two-day Concluding Senior Officials' Meeting (CSOM) to finalize preparations for the summit. As the chair, South Korea is anticipated to present its advancements in artificial intelligence (AI) cooperation and responses to demographic changes during the meeting.
The outcomes of the CSOM meeting are set to be reported to the APEC Ministerial Meeting (AMM), scheduled for Wednesday and Thursday. During the AMM, the foreign and trade ministers of the 21 APEC nations will address regional challenges and explore ways to promote shared prosperity through digital cooperation, along with strategies to fortify supply chains and enhance trade.
The main APEC Economic Leaders' Meeting is scheduled from Oct. 31 to Nov. 1, focusing on whether member countries will adopt the Gyeongju Declaration amid rising challenges to free trade and multilateralism.
On the sidelines of the APEC gathering, President Lee Jae Myung will meet U.S. President Donald Trump during his state visit to South Korea from Oct. 29 to 30. Their meeting is expected to attract significant attention as Seoul and Washington engage in negotiations to finalize a trade deal, aiming to lower U.S. tariffs on Korean goods from 25 percent to 15 percent.
Additionally, Lee plans to hold a bilateral meeting with Chinese President Xi Jinping, marking Xi's first visit to South Korea in 11 years, to discuss advancing bilateral relations and regional security issues.
Separately, Trump and Xi are scheduled to hold a summit on Thursday amid escalating trade tensions between the U.S. and China. This will be the first simultaneous state visit to South Korea by leaders of both nations.
A meeting between Lee and Japan's new Prime Minister Sanae Takaichi is also being arranged.
Reports indicate that Trump is expected to deliver a keynote speech during the APEC CEO Summit but may not participate in the main APEC summit. The APEC CEO Summit, set for Oct. 29-31, will feature global business leaders, including Jensen Huang, CEO of AI chip giant Nvidia.