South Korean Prime Minister Kim Min-seok delivers a congratulatory speech at The Korea Herald HIT Forum held at the Korea Chamber of Commerce and Industry in Seoul on Thursday. (Lee Sang-sub/The Korea Herald)

SEOUL South Korea Prime Minister Kim Min-seok on Thursday called for deeper Asian cooperation in trade and economic policy, stressing that regional solidarity is essential to navigating unprecedented global uncertainty.

Delivering a congratulatory message at The Korea Herald’s HIT Forum in central Seoul, Kim said the world is facing “unparalleled instability” from slowing growth, intensifying geopolitical tensions and sweeping changes in supply chains and trade rules.

On top of this, countries are also grappling with challenges posed by artificial intelligence and the global energy transition, he added.

“These crises cannot be overcome by the efforts of individual nations alone. International solidarity and cooperation are indispensable,” Kim said, addressing global journalists and business leaders gathered at the Korea Chamber of Commerce and Industry headquarters.

The prime minister underscored that Asia, accounting for nearly half of global gross domestic product, carries particular weight in shaping the future of trade. He welcomed the forum’s theme of “reshaping trade order and Asian solidarity” as timely and reflective of the challenges confronting the region.

Kim pointed to Korea’s active pursuit of bilateral and regional free trade frameworks. Seoul has established free trade agreements with China, India, Vietnam, Singapore, Cambodia, Indonesia and the Philippines, and is in negotiations with other Asian partners. Talks are also underway to resume trilateral free trade agreement negotiations with China and Japan to stabilize trade and strengthen supply chains in Northeast Asia.

He highlighted Korea’s role in the Regional Comprehensive Economic Partnership, the world’s largest trade pact, noting its contribution to harmonizing rules of origin and expanding cooperation in digital trade and e-commerce.

Seoul is also considering joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. “If Korea joins CPTPP, I believe Asian nations including Korea and Japan will be better positioned to jointly respond to the transformation of the trade order and to complex crises,” he said.

Kim stressed that with trust and solidarity, Asia can lead the recovery and prosperity of the global economy. “If we expand the scope of cooperation based on mutual trust and harmony, Asia will undoubtedly spearhead global recovery and prosperity,” he said.

Looking ahead to the Asia-Pacific Economic Cooperation summit at the end of the month in Gyeongju, North Gyeongsang Province, Kim said Korea would present its long-term vision for artificial intelligence at the global gathering. Since taking office in June, President Lee Jae Myung’s administration has made AI a policy cornerstone, pledging major investment and regulatory backing to spur growth across key sectors.

“Korea will work to ensure that advances in cutting-edge technology not only help us overcome global challenges, but also become the driver of achieving innovation and prosperity," Kim said.

APEC brings together 21 member economies along the Pacific Rim, including the US, China, Russia and South Korea. Since its launch as a ministerial-level dialogue in 1993, the APEC leaders' summit has evolved into one of the region’s more important annual intergovernmental forums. This year’s summit will center on revitalizing trade and investment and fostering digital innovation.

Expectations are mounting over high-level diplomacy in Gyeongju, with Chinese President Xi Jinping possibly attending his first APEC summit in 11 years and US President Donald Trump already confirmed. Attention is on whether the October gathering will set the stage for major bilateral encounters amid persisting global tensions.

Prime Minister Kim also spotlighted the APEC CEO Summit, to be held alongside the leaders’ meeting on Oct. 28-31. The event is expected to draw around 1,700 business leaders and industry officials, the largest turnout on record for the annual gathering.

“We anticipate the event will create new opportunities for cross-border business cooperation,” Kim said. “I ask for the attention and support of everyone here so that APEC in Gyeongju can conclude successfully.” THE KOREA HERALD