Global Economic Challenges Take Center Stage
South Korean President
Lee Jae Myung delivered a stark warning about the worsening crisis facing the global economy, emphasizing the rise of
protectionism and
nationalism during his keynote at the 2025
Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju. Lee argued that the international trading environment has shifted dramatically compared to two decades ago, presenting new and urgent threats to shared prosperity[1][2][3][5].
Call for Multilateral Solutions and Supply Chain Cooperation
Lee cited the importance of collaborative efforts to address current disruptions, particularly with regard to supply chain issues. He stressed that:
- Protectionism and nationalism are increasing, making "cooperation, coexistence, and inclusive growth" challenging yet more essential than ever[2][3][1].
- The trade environment of 2025 is vastly different from that of 2005, the last time South Korea hosted the APEC summit[1][2].
- Strengthening shared trust is crucial for shared prosperity, especially during periods of crisis[2].
- Supply chain cooperation should be a central focus for stability and growth[3][2].
- South Korea will continue to lead efforts for multilateral cooperation within the APEC region[3][1][5].
South Korea’s Role as a Global Leader
President Lee positioned South Korea as a responsible global power, committed to rebuilding trust and facilitating collaboration, particularly for countries across the Asia-Pacific. He expressed optimism that multilateral platforms like APEC could shine as sources of solidarity in challenging times, even if certain ideals seem unattainable.
Business Leaders and Future Initiatives
Lee credited Asia Pacific business leaders for helping achieve shared prosperity through their focus on cooperation. He voiced hope that joint solutions would emerge for the current economic crisis and previewed that South Korea would propose an
AI Initiative at the summit—although no further details on this proposal were disclosed in the address[2].
Conclusion: APEC’s Relevance Amid Crisis
President Lee concluded with a message that, paradoxically, APEC’s value as a platform for economic unity and cooperation stands out more strongly in today’s crisis-ridden environment. South Korea's leadership and commitment to multilateral problem-solving will remain at the heart of efforts to counteract protectionist and nationalist trends jeopardizing global stability[1][3][5].
