Anchor: Leaders from 21 Pacific Rim economies have gathered at the ancient Silla capital of Gyeongju, to attend this year's Asia-Pacific Economic Cooperation(APEC) summit. In his speech opening the two-day event, President Lee Jae Myung highlighted heightened uncertainty and challenges in the current global economy, particularly in the field of artificial intelligence, and called for cooperation. In the absence of U.S. President Donald Trump, who left South Korea on Thursday, Chinese President Xi Jinping called for the revival of free trade.
Kim Bum-soo has more.

Report:

[Sound bite: 1st session, 32nd APEC Economic Leaders' Meeting]

In his opening remarks as Asia-Pacific Economic Cooperation(APEC) chair during Friday's session, President Lee Jae Myung said he hopes the APEC spirit, which has proven the effectiveness of cooperation, solidarity and mutual trust, will be fully evident in Gyeongju.

[Sound bite: President Lee Jae Myung (Korean-English)]
"We are standing at a critical inflection point with a rapidly changing global economic order. As the free trade system undergoes sweeping changes, global economic uncertainty is deepening, and the momentum for trade and investment is weakening. The technological revolution—epitomized by artificial intelligence—presents us with an unprecedented crisis and, at the same time, an unprecedented opportunity."

Lee expressed confidence in APEC’s ability to navigate the current circumstances, characterizing cooperation and solidarity as the only sure path to a better future.

[Sound bite: President Lee Jae Myung (Korean-English)]
"This is a difficult challenge, but I believe the journey of APEC has taken hold of the answers to overcoming this crisis. Only cooperation and solidarity can surely lead us to a better future. Since our respective national interests are at stake, it is clear we cannot always be on the same side, but we can work together to achieve common prosperity."

In the absence of U.S. President Donald Trump, who left South Korea on Thursday after bilateral talks with Chinese President Xi Jinping, Xi more specifically urged the participants to safeguard multilateralism and free trade.

According to Chinese media, Xi called on APEC members to enhance the authority and effectiveness of the WTO-centered multilateral trading system and to update the rules of international economics and trade to reflect the modern global environment.

The 21 APEC member economies are working to finalize the "Gyeongju Declaration."

But it remains to be seen whether the joint statement will highlight APEC’s spirit of free and open trade amid rising trade protectionism and deepening geopolitical divides.

Founded in 1989 to promote open exchange and regional economic integration, the 21-member APEC accounts for approximately 60 percent of the world's trade.
Kim Bum-soo, KBS World Radio News.