Unanimous Appointment at ABAC 4th Meeting
To Chair Four Meetings Next Year and Draft Economic Proposals
To Be Delivered to APEC Leaders in October in Gyeongju
"Economic Situation More Uncertain Than Ever
Efforts to Enhance Asia-Pacific Shared Values"
Cho Hyun-sang, Vice Chairman of HS Hyosung, will serve as the Chair of the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council (ABAC) next year.
Vice Chairman Cho Hyun-sang of HS Hyosung (ABAC Chair) and ABAC members from various countries are taking a commemorative photo. The fourth person from the left in the first row is Vice Chairman Cho Hyun-sang of HS Hyosung. Photo by Korea Chamber of Commerce and Industry
The Korea Chamber of Commerce and Industry, the Korean secretariat of ABAC, announced that after the 4th ABAC meeting held in Lima, Peru from the 11th to the 13th (Korean time), Vice Chairman Cho was unanimously appointed as the Chair of ABAC for the upcoming year.
The meeting was attended by about 60 business advisory members from 21 APEC member economies and regions. Vice Chairman Cho attended as a Korean ABAC member along with Lee Kyu-ho, Vice Chairman of Kolon, and Lee Joo-wan, CEO of Megazone Cloud. After his appointment was confirmed, Vice Chairman Cho expressed, "I feel a great sense of responsibility in taking on the role of ABAC Chair in 2025," adding, "In an economic environment with greater uncertainty than ever before, I will strive to convey the voice of the business community through dialogue with leaders and to promote shared values in the Asia-Pacific region."
Vice Chairman Cho’s activities as ABAC Chair are expected to begin in earnest from February next year. From then on, ABAC will hold four meetings annually to draft recommendations reflecting proposals from Asia-Pacific business leaders. Vice Chairman Cho will preside over these meetings. Subsequently, he will deliver these recommendations to APEC leaders at the '2025 ABAC Members-APEC Leaders Dialogue' to be held in Gyeongju around October next year. This year’s recommendations included a total of 26 tasks such as improving the digital trade environment, establishing AI governance, and promoting the green economy.
Meanwhile, the Korea Chamber of Commerce and Industry announced that the main sessions of next year’s APEC business events will include the 'APEC CEO Summit,' where APEC leaders and global CEOs gather, and the ‘ABAC Members-APEC Leaders Dialogue.’ Chairman Choi Tae-won of the Korea Chamber of Commerce and Industry will chair the Summit, while Vice Chairman Cho will preside over the Dialogue.
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