Cho Hyunsang, Vice Chairman of HS Hyosung, presided over the third meeting of the APEC Business Advisory Council (ABAC) as chairman. Vice Chairman Cho met with Vietnamese President Luong Cuong to discuss expanding economic exchanges between Korea and Vietnam and other measures to ensure the successful hosting of the Asia-Pacific Economic Cooperation (APEC) summit.
On the previous day, the 15th, Vice Chairman Cho met with President Cuong in Haiphong, Vietnam, and expressed his gratitude for Vietnam's important role as the host country of the third ABAC meeting, according to an announcement on the 16th. He also requested that President Cuong attend the upcoming APEC CEO Summit in October as a keynote speaker and delivered the official APEC invitation letter.
HS Hyosung Vice Chairman Cho Hyunsang met with Vietnamese President Nguyen Xuan Phuc in Haiphong, Vietnam on the 15th and delivered the official APEC invitation letter. HS Hyosung
President Cuong stated, "ABAC plays an important role in conveying the voice of the private sector to governments and in promoting global economic cooperation," and added, "I will positively consider the invitation to be a keynote speaker." He continued, "Korea and Vietnam are major economic cooperation partners," and noted, "Vice Chairman Cho and HS Hyosung, as chair of the Korea-Vietnam Economic Cooperation Committee, have made significant contributions to the Vietnamese economy in terms of investment and employment."
Vice Chairman Cho will lead the 2025 ABAC third meeting in Haiphong, Vietnam, until the 18th, discussing key agenda items including global trade issues. Starting on the 19th, he plans to move to Hanoi to meet with Vietnamese government officials, business leaders, and ambassadors from various countries to request cooperation on APEC matters.
This meeting will revisit the main topics discussed at the first and second ABAC meetings held in February and April. Based on discussions in five areas?regional economic integration, sustainability, artificial intelligence and digital, finance and investment, and bio and healthcare?practical action plans will be further developed. In addition, amid increasing uncertainty in the trade environment, there was a proposal to emphasize free and open trade and to expand the scope and coverage of the APEC card as a practical improvement measure.
The agenda items reviewed at this third meeting will be finalized at the fourth ABAC meeting to be held in Busan in October this year. Vice Chairman Cho plans to deliver the finalized recommendations directly to the leaders of the 21 APEC member economies, including the United States and China, during the 2025 'ABAC Members-APEC Leaders Dialogue' session. The recommendations will include policy proposals discussed by companies from the 21 APEC member economies to improve the trade environment in the Asia-Pacific region.
With this year's APEC meeting being held in Korea for the first time in 20 years since the 2005 Busan APEC, Vice Chairman Cho has been actively engaging in private sector diplomacy since being elected ABAC chairman in November last year.
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