Serving as Chair of the APEC Business Advisory Council
"We Will Revitalize the Business Travel Card"... Emphasizing Differentiation
Hyun Sang Cho, Vice Chairman of HS Hyosung, attended a meeting of the Asia-Pacific Economic Cooperation (APEC) Preparatory Committee hosted by Jooho Lee, Acting President and Deputy Prime Minister and Minister of Education. As the Chair of the APEC Business Advisory Council (ABAC), Vice Chairman Cho stated that he would deliver the voice of the business community to the leaders of each country. The APEC Summit is scheduled to take place in Gyeongju, North Gyeongsang Province, in October.
HS Hyosung announced on May 23 that Vice Chairman Cho had attended the 7th meeting of the APEC Summit Preparatory Committee held on the previous day, May 22. Vice Chairman Cho said, "Led by Korea, we will revitalize the 'APEC Business Travel Card'," and added, "We will do our utmost to differentiate this APEC from previous ones so that what is called the 'Gyeongju Declaration' or the 'Republic of Korea Declaration' can be achieved." The 'APEC Business Travel Card' is a system designed to promote economic exchanges among member countries, allowing for expedited entry and exit through dedicated airport lanes without the need for separate entry visas.
In addition, Vice Chairman Cho requested cooperation from the Korean government to ensure that the ABAC recommendations are adopted during this year's APEC Summit and reflected in domestic policy. He also called for interest and support to ensure that key improvement initiatives are actively pursued by other member countries as well.
Vice Chairman Cho will personally preside over the 3rd and 4th ABAC meetings to be held in Vietnam and Busan in July and October, respectively, continuing discussions related to APEC. The opinions gathered from the council members at these meetings will ultimately be delivered to the leaders of each country at the APEC Summit in Gyeongju.
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