KCCI chair emphasizes economic benefits of APEC CEO Summit

Chey visits Gyeongju, reviews preparations

By Nam Hyun-woo

Korea Chamber of Commerce and Industry (KCCI) Chairman Chey Tae-won has stressed the economic benefits of the upcoming Asia-Pacific Economic Cooperation summit in Gyeongju, North Gyeongsang Province, and its affiliated economic events. He noted that these gatherings will provide a crucial opportunity to revitalize the economies of the host region, according to the KCCI on Tuesday.

According to the KCCI, Chairman Chey Tae-won recently visited Gyeongju, the host city of the summit, for two days to review the latest progress in preparations for APEC-related economic events. As chair of the 2025 APEC CEO Summit, he was accompanied by KCCI Executive Vice Chairman Park Il-joon and Seoul Chamber of Commerce and Industry Vice Chairman Lee Hyung-hee.

Slated for Oct. 28 to 31, the 2025 APEC CEO Summit is one of the world’s most prestigious business events. This year’s edition will cover pivotal issues such as the energy transition, digital and artificial intelligence (AI) transformation, trade and biotechnology.

During the visit, Chey hosted a meeting with the heads of local governments, including North Gyeongsang Province Gov. Lee Cheol-woo, Deputy Governor of Economy Yang Geum-hee and Gyeongju Mayor Joo Nak-young, to explore ideas on expanding the CEO summit’s contribution to the local economy.

“The APEC CEO Summit is an important event where economic leaders of Asia-Pacific come together to explore ways for future growth and cooperation in the region,” Chey said. “We hope that local governments and businesses will work closely together so this event can serve as an opportunity to revitalize not only Gyeongju and North Gyeongsang Province but also the broader regional economy.”

According to joint research by the KCCI and consulting firm Deloitte, the economic value of the 2025 APEC summit is expected to reach 7.4 trillion won ($5.12 billion). The short-term direct impact, including economic revitalization and domestic consumption, is estimated at 3.3 trillion won, while the long-term indirect impact is projected to stand at 4.1 trillion won, driven by economic and cultural exchanges. The research also predicts that 22,600 new jobs will be created as a result of the event.

In line with the CEO summit, a series of related events and programs are planned. The KCCI said the Future Tech Summit will serve as a forum to shed light on advanced technologies in AI, secondary batteries, nuclear power and the health care sectors. The K-Tech Showcase will highlight the latest innovations from Korean software, semiconductor and electronic appliance companies, while other programs will focus on the cultural aspects of Korea.

Before the meeting, Chey visited the Gyeongju Arts Center, the candidate venue for the CEO summit. He and North Gyeongsang Gov. Lee inspected the center's facilities and equipment, and reviewed the preparedness of other venues for events, including the welcome dinner.

“The APEC CEO Summit and related events represent an important opportunity to showcase Korea’s innovative capabilities and future vision,” said Lee Sung-woo, head of KCCI’s International Trade Division. “In cooperation with the central government, local authorities and businesses, the KCCI will do its utmost to ensure the event’s success.”

APEC is an international organization comprised of 21 member economies to enhance cooperation across the Asia-Pacific region. Upon Korea’s hosting of the APEC 2025 Korea, the KCCI will host the APEC 2025 CEO Summit and the APEC Business Advisory Council (ABAC) meeting for business leaders from member economies.