[Gyeongju APEC] President Lee: "Adoption of the Gyeongju Declaration Marks a Meaningful Conclusion"

President Lee Jae-myung Holds APEC Press Conference on November 1
Three Key Documents, Including the "Gyeongju Declaration," Adopted at the Summit
"Main Point of Contention Was Inclusion of Trade and Investment Chapter"

Yonhap News Agency

At the Asia-Pacific Economic Cooperation (APEC) Summit held in Gyeongju, three documents, including the "Gyeongju Declaration," were adopted on November 1.

President Lee Jae-myung, serving as the APEC Chair, stated during a press conference at the Gyeongju Media Center on the same day, "The (APEC) economic leaders have adopted three outcome documents." The adopted documents are: ▲ the Gyeongju Declaration, ▲ the Artificial Intelligence (AI) Initiative, and ▲ the Joint Framework for Responding to Demographic Changes.

President Lee explained, "The Gyeongju Declaration was finalized this morning," adding, "There were disagreements regarding the wording, which were resolved. The main point of contention was whether to include a chapter on trade and investment." He further stated, "By gathering the intentions of all member economies, I believe we have reached a sufficiently meaningful conclusion regarding the path forward for the world."

The Gyeongju Declaration is based on APEC's three core priorities: Connect, Innovate, and Prosper. The declaration includes key discussions on critical issues such as trade and investment, digital innovation, and inclusive growth. It also reflects the shared awareness and commitment of member economies to cooperate on AI and to respond to demographic changes.

President Lee Jae-myung is holding a press conference for the 2025 Asia-Pacific Economic Cooperation (APEC) Summit at the Gyeongju Hwabaek Convention Center (HICO) on the 1st. Photo by Yonhap News

The Office of the President assessed, "Amid growing uncertainties in the global economy, it is significant that the 21 member economies have presented a direction for comprehensive cooperation on major global economic issues, including trade."

In particular, the Gyeongju Declaration recognizes the "cultural and creative industries" as a new growth engine for the Asia-Pacific region and explicitly states the need for cooperation. As the first APEC summit document to specify the cultural and creative industries, the Office of the President analyzed that "this has paved the way for Korean culture to become a new growth engine within the Asia-Pacific region."

The AI Initiative is designed to ensure that all members participate in the AI transition process and share the benefits of technological advancement. Its main components are: ▲ promoting economic growth through AI innovation, ▲ strengthening capabilities and expanding the benefits of AI, and ▲ increasing private sector investment in resilient AI infrastructure. This is APEC's first codified joint vision on AI, and the first AI-related summit-level agreement to include both the United States and China.

The Joint Framework for Responding to Demographic Changes was established in recognition that demographic shifts such as low birth rates and population aging are common challenges in the region. It outlines policy directions and cooperation measures in five key areas: ▲ building resilient social systems, ▲ modernizing human resource development, ▲ strengthening technology-based health and care services, ▲ enhancing economic capacity for all, and ▲ promoting regional dialogue and cooperation.