Tangible Progress toward Successful APEC 2025

- Third APEC Senior Officials' Meeting (SOM3) Held in Incheon -

1. The Third Senior Officials' Meeting and Related Meetings (SOM3) of the Asia-Pacific Economic Cooperation (APEC) was held from July 26 to August 15 in Incheon, presided over by Ambassador Yoon Seong-mee, Chair of the 2025 APEC Senior Officials' Meeting (SOM).

2. The meetings brought together over 5,800 participants, including delegates from APEC's 21 member economies, official observers, and members of the APEC Secretariat. In addition to SOM, more than 200 meetings were convened, including that of the Committee on Trade and Investment (CTI), the SOM Steering Committee on Economic and Technical Cooperation (SCE), and sub-fora, as well as workshops and public-private dialogues.

※ The Asia-Pacific Economic Cooperation (APEC) is the largest economic cooperation forum in the Asia-Pacific region, comprising 21 member economies including the Republic of Korea, the United States, China, Japan and the Russian Federation.

※ The Senior Officials' Meeting (SOM) serves as a high-level consultative body where APEC member economies discuss key cooperation issues. It convenes four formal meetings and one informal meeting each year, with the outcomes reported to the APEC Economic Leaders' Meeting and the APEC Ministerial Meeting. Korea was represented at the APEC 2025 SOM by Lee Ji-yoon, Deputy Director-General for International Economic Affairs at the Ministry of Foreign Affairs.

3. SOM3 served as a strategically important stage in ensuring that the outcomes of SOM1 and SOM2 become tangible achievements of the APEC Economic Leaders' Meeting and the APEC Ministerial Meeting to be held in late October. In particular, member economies engaged in substantial discussions on developing new initiatives to replace long-term projects due to be concluded soon, such as the APEC Services Competitiveness Roadmap aimed at strengthening services competitiveness and expanding trade in services in the Asia-Pacific region; the APEC Structural Reform Agenda to improve the regional business environment; and the Action Plan to guide the APEC Finance Ministers' Process. Furthermore, Phase Five of the Capacity Building Needs Initiative (CBNI), which has been spearheaded by Korea since 2012, was endorsed, reaffirming its continued contribution to APEC.

4. At SOM3, many member economies discussed enhancing regional trade and investment, reaffirming their support for the rules-based multilateral trading system with the World Trade Organization (WTO) at its core and for the success of the 14th WTO Ministerial Conference (MC14). They stressed that digital transformation and innovation serve as critical drivers of economic growth, with some underscoring the importance of an inclusive approach to ensure that all can share in the benefits. In addition, member economies exchanged views on a wide range of global issues including disaster management cooperation, response to demographic changes, and energy transition.

5. Moreover, the Korean government provided an update on progress in advancing its key deliverables for the upcoming APEC Economic Leaders' Meeting -- "Cooperation in Artificial Intelligence (AI)" and "Response to Demographic Changes" -- and requested the support of members.

6. On the cultural front, delegations were offered opportunities to experience Korea's tourism and culture through programs prepared by the City of Incheon, including a group visit to a professional baseball game featuring Korea's unique cheering culture.

7. In conjunction with SOM3 came a series of Sectoral Ministerial Meetings, such as the Digital & AI Ministerial Meeting (August 4), the Food Security Ministerial Meeting (August 10), and the Women and the Economy Forum (August 12), each concluding with the adoption of a joint statement. In addition, the APEC High-Level Dialogue of Anti-Corruption Cooperation (July 31-August 1) was held, enabling member economies to take part in broad exchanges of views.

8. On the sidelines of the event, the Korean delegation engaged in active bilateral consultations with Senior Officials from member economies, including the United States, China, Japan, the Russian Federation, Australia, New Zealand and Peru who expressed their support toward meaningful outcomes at the APEC Economic Leaders' Meeting.

9. Looking ahead, APEC's busy agenda continues. Ahead of the APEC Economic Leaders' Meeting to be held in Gyeongju in late October, five ministerial meetings, respectively covering small and medium-sized enterprises (SMEs), health, energy, finance and structural reform, as well as the High-Level Dialogue on Cultural and Creative Industries, are scheduled to take place. The Korean government will remain committed to working closely with member economies until the conclusion of APEC 2025 to ensure its success.