Koo Yoonchul: "APEC Should Achieve Shared Prosperity Through AI Innovation and Cooperation"

First Joint Session of Finance and Structural Reform Ministers' Meeting
"APEC Must Present Specific Directions for Cooperation"

Koo Yoonchul, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, stated on October 22, 2025, "I hope that the Asia-Pacific Economic Cooperation (APEC) will achieve shared prosperity through collaboration and AI-driven innovation."

During his opening remarks at the joint session of the APEC Finance and Structural Reform Ministers' Meeting held at Inspire Resort on Yeongjong Island, Incheon, Deputy Prime Minister Koo said, "I hope that the APEC Economic Policy Report on 'Structural Reform and AI-Driven Digital Transformation,' which will be prepared next year, will present concrete directions for APEC's cooperation in building a safe AI ecosystem and bridging the digital divide."

Koo Yoonchul, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, is delivering the opening remarks at the "2025 APEC Finance and Structural Reform Ministers' Meeting" held on the 21st at Inspire Resort in Jung-gu, Incheon.

This session, the first joint session on the theme of "Innovation and Digitalization," brought together finance and structural reform ministers from all 21 APEC member economies, including the host country Korea, as well as the United States, China, Japan, Australia, and Taiwan. Deputy Prime Minister Koo said, "I hope this gathering will allow us to share member economies' policy directions for AI and digital transformation and to engage in in-depth discussions on the future direction of APEC cooperation."

He explained, "According to a domestic report released by the Bank of Korea in February, the adoption of AI has the growth potential to increase Korea's productivity by 1.1 to 3.2 percent and its gross domestic product (GDP) by 4.2 to 12.6 percent, which could significantly offset the slowdown in growth caused by demographic changes."

He also noted, "According to a working paper published by the International Monetary Fund (IMF) in April, the introduction of AI could increase global GDP by up to 4 percent. However, the IMF points out that the benefits of this growth will not be distributed equally, as advanced economies with higher AI readiness, infrastructure, and data accessibility will benefit the most."

He emphasized, "With the belief that AI advancement is the only breakthrough for the Korean economy, we are driving a comprehensive AI transformation across all sectors, including businesses, the public sector, and the general public. Korea, with its strengths in manufacturing and information and communications technology (ICT) infrastructure, plans to actively support seven major physical AI projects-such as AI robots and AI vehicles-by providing a package of research and development (R&D), regulatory easing, and financial support."

He added, "We also plan to implement customized education for different groups so that everyone in the country can use AI as conveniently as they use the Korean language, while also pursuing tailored support policies for those struggling with the digital divide."