APEC CEO Summit opens in Gyeongju with focus on AI, regional cooperation GYEONGJU, October 29 (AJP) - The CEO Summit as part of as part of the Asia-Pacific Economic Cooperation (APEC) summit kicked off on Wednesday in South Korea's southeastern city of Gyeongju, drawing top business leaders and political figures from across the Asia-Pacific region to discuss artificial intelligence (AI), digital transformation and sustainable growth. President Lee Jae Myung delivered the opening address at the Gyeongju Arts Center, emphasizing the summit's themes of connectivity, prosperity and innovation as leaders from economies representing 61 percent of global GDP gathered for the two-day forum. "Korea is a cherished American friend and close ally." Trump highlighted plans to revive American shipbuilding through partnership with South Korea. "Today, we're not really building ships and we're going to start. We're going to have a very thriving shipbuilding industry and we're working with South Korea very much," he said. Regarding the Philadelphia Shipyard, Trump said it would become "one of the most successful yards in the world." The CEO summit, themed "Bridge, Business, Beyond," will focus on regional economic integration, AI and digital transformation, sustainability, finance and investment, and bio-health sectors. South Korea's major conglomerate heads attended the opening ceremony, including Samsung Electronics chairman Lee Jae-yong, Hyundai Motor Group chairman Chung Eui-sun, and LG Group chairman Koo Kwang-mo. SK Group chairman Chey Tae-won, who leads business lobby Korea Chamber of Commerce and Industry, serves as the summit's chair. International participants include Deloitte CEO David Hill, Google APAC Vice President Simon Kahn, and Amazon Web Services CEO Matt Garman. Nvidia CEO Jensen Huang is also among the participants, scheduled to give speech on Friday. 2025-10-29 16:48:59

VISUALS: Visitors enjoy taste of Korean culture on sidelines of APEC CEO Summit GYEONGJU, October 29 (AJP) - The APEC CEO Summit Korea 2025 officially launched on Wednesday, inviting esteemed business leaders not only from Korea but from across the globe to discuss pressing global agendas together. Outside the main hall stands a cultural ground dubbed "K-Wave Playground" for foreign delegates to catch a glimpse of Korean culture during the summit event. Standing right in front of the entrance, a skilled musician played the gayageum, a traditional zither with twelve strings. Meanwhile, visitors tried on outfits for Joseon court musicians at the musical instruments booth. "We're quite nervous for this event, but we hope the APEC CEO Summit visitors get to see how Joseon court musicians dressed up," said Shin Ye-won, a 23-year-old volunteer from Goyang. Colorful indigenous Korean paintings decorated walls of the 'K-Art' booth, pictures drawn both by professionals and amateurs alike. "It's the traditional 'Mi,' or beauty of our culture that we wish to share, our paintings drawn in modern-day times yet preserving the spirit of our ancestors," said Woo Sook-ja, a manager from the Korean Institute for Minhwa Research, as she pointed at the vibrant colors on the drawings. A full-spin photo and video station had staff helping guests change into hanbok, traditional Korean wear. "So many enjoyed hanbok, especially the ones we prepared that resemble those of Saja Boys from K-pop Demon Hunters," said Moon Yu-jin, a 25-year-old student participating as a volunteer. In hemisphere-shaped domes, other aspects of traditional Korean culture including hanji, traditional foods, and liquor were also on display. 2025-10-29 16:30:58

Asian markets mixed as investors await Trump-Xi meeting SEOUL, October 29 (AJP) - Major Asian stock markets closed with mixed results on Wednesday, as investors weighed optimism over technology earnings against caution ahead of a high-stakes meeting between U.S. President Donald Trump and Chinese President Xi Jinping. In South Korea, the benchmark KOSPI index rose 2 percent to close at 3,921.52, led by gains in semiconductor giants Samsung Electronics and SK hynix. Both extended their recent rally amid renewed hopes that Washington might ease export restrictions on advanced chips. Strong quarterly results from the two companies further fueled the surge, lifting the broader technology sector. Japan’s Nikkei 225 advanced 1.3 percent to 49,282.19, supported by expectations of additional fiscal stimulus from Tokyo. Industrial and tech stocks led the advance, echoing Wall Street’s recent momentum driven by developments in artificial intelligence. In Taiwan, the TAIEX index slipped 0.4 percent to 24,388.21 as investors took profits following recent strong gains in chipmakers. Despite the modest retreat, analysts noted that Taiwan’s semiconductor industry remains a vital pillar of the global supply chain. Hong Kong’s Hang Seng Index climbed 0.7 percent to 25,967.98, buoyed by property and industrial shares. Investors there also appeared cautiously optimistic, awaiting clarity from the ongoing U.S.-China trade discussions. By contrast, India’s benchmark BSE Sensex and NSE Nifty 50 each fell 0.3 percent, to 84,301 and 25,817 respectively. Weaker banking and consumer goods stocks weighed on the market, as sentiment cooled amid concerns over a possible new U.S. trade probe into China and rising crude oil prices that could stoke inflation pressures. Across the region, traders are keeping a close watch on the Trump-Xi meeting, which could shape the next phase of global trade relations and influence monetary and fiscal strategies across Asia’s export-driven economies. 2025-10-29 16:29:16

PHOTOS: Silver grass Festival at Haneul Park – Autumn blooms from a mountain of waste SEOUL, October 29 (AJP) - Each autumn, a mountain in western Seoul turns to gold. Haneul Park, perched 98 meters above sea level, is known for its sweeping skyline views — but few visitors realize it was once a landfill. By 8 a.m., the park entrance beside the World Cup Stadium was already dotted with early risers climbing 291 steps toward the summit. The ascent left many slightly winded, but the view was worth it. Silver grass swayed in the morning light, and beyond them, Seoul unfolded — the ridges of Bukhansan, the Han River, and rows of high-rise buildings all visible in one glance. Beneath the beauty lies an unlikely story. The silver grass fields were planted as part of an ecological restoration project ahead of the 2002 World Cup. For 15 years, this hill had been Nanji-do, a landfill holding more than 92 million tons of Seoul’s waste. Silver grass, a resilient plant that thrives in harsh soil, became the first step in transforming the barren mound into a symbol of renewal. Today, the 58,000-pyeong park has become one of Seoul’s most beloved autumn destinations.​​​​​​​ Walking through the fields, the color of the reeds shifted between silver and gold with each turn of sunlight. Art installations scattered among the grass added rhythm to the landscape, drawing visitors to pause for photos or simply stand still and watch the wind ripple across the hill.​​​​​​​ From the observatory deck, the city stretched endlessly below. What was once a mountain of refuse now breathes as a green sanctuary — a quiet testament to Seoul’s capacity for restoration. The silver grass reach their peak from mid-October to early November. During the festival period, evening lights and performances add a festive glow, but the early morning hours offer the calmest and most evocative experience. Those who find the climb difficult can take the “Maengkkongi” electric shuttle from the park entrance for a small fare. 2025-10-29 16:22:03

French quantum computing firm Pascal to establish research center in Seoul SEOUL, October 29 (AJP) - The Seoul Metropolitan Government said on Wednesday that it had secured a major investment from Pascal, a leading French quantum computing company. Under a memorandum of understanding signed this week, Pascal plans to invest $52.8 million to establish a quantum computing research and development center in Seoul, a project expected to create 51 jobs. The two sides will also collaborate on talent development and support programs for startups and companies engaged in quantum technologies. The signing ceremony was attended by Seoul Mayor Oh Se-hoon, Pascal’s co-founder and Chief Strategic Alliance Officer Georges Olivier Reymond, French Ambassador to South Korea Philippe Bertoux, and Roberto Mauro, head of Pascal’s Korean operations. Founded in 2019 by Nobel laureate Alain Aspect and four colleagues, Pascal specializes in quantum computers based on neutral atom technology. Headquartered near Paris, the company employs about 300 people across eight countries. It was the first to commercialize a 200-qubit quantum computer and successfully demonstrated a 1,000-qubit system in 2024. The company is also working on error-tolerant quantum computing and collaborates with major global players such as IBM, Nvidia, Microsoft, Google, and LG Electronics. Pascal’s investment adds momentum to Seoul’s growing quantum ecosystem. Earlier this year, the city attracted U.S. cloud data firm Snowflake and Swiss quantum security semiconductor company Silsc. City officials say the goal is to make Seoul a nexus for quantum computing, hosting training programs, research initiatives, and a dedicated technology support center. “Seoul is proactively building a quantum industry ecosystem to lead future technological change,” Mayor Oh said in a statement. “This agreement reaffirms Seoul’s competitiveness and investment appeal, and we will continue to provide administrative and financial support.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 16:21:31

[[OPINION]] Multilateral cooperation powers Asia-Pacific growth as openness, innovation shape future SEOUL, October 29 (AJP) - At the Gyeongju Hwabaek International Convention Center in South Korea, representatives from the 21 member economies of the Asia-Pacific Economic Cooperation (APEC) will soon gather to chart a new blueprint for shared growth. As a responsible major country and an active participant, contributor and leader in Asia-Pacific cooperation, China calls for openness and inclusiveness, mutual benefit and win-win outcomes, and joint efforts to build an Asia-Pacific community with a shared future. Since its founding in 1989, APEC has become one of the highest-level, most wide-ranging and most influential economic cooperation mechanisms in the region. Guided by the principle of open regionalism, APEC respects the diversity of its members in political systems, development stages and social cultures, and promotes regional development through practical cooperation. This approach has turned the Asia-Pacific into a key engine of global growth, an anchor of stability and a high ground for cooperation. As one of the region's major economies, China continues to serve as a driving force in advancing regional prosperity. As Chinese President Xi Jinping noted in his written remarks on the 2024 APEC CEO Summit, "the success of the Asia-Pacific is due to our firm commitment to peace and stability in the region, to our continuous practices of true multilateralism and open regionalism, and to our deep faith in the trend toward economic globalization as well as mutual benefit and mutual success." Today, as unilateralism and protectionism resurface and global industrial and supply chains undergo profound restructuring, the Asia-Pacific stands at a critical crossroads on its journey toward the next "golden 30 years." Will economies turn inward and build "small yards with high fences," or will they stay open and cooperative? China is responding through concrete action, remaining committed to openness over isolation, cooperation over confrontation, and connectivity over division. By strengthening industrial and supply chain resilience, deepening cooperation in digital economy and green development, and advancing sustainable development, China contributes both insights and strength to a more prosperous Asia-Pacific. Openness and inclusiveness form the cornerstone of Asia-Pacific cooperation. In an era of irreversible globalization, building an open world economy, safeguarding free trade, and advancing regional integration have become a shared aspiration. China continues to expand high-standard opening-up, fully implement the Regional Comprehensive Economic Partnership and strive to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Digital Economy Partnership Agreement. Aligning with international high-standard economic and trade rules, China injects new vitality into regional openness and stability amid global uncertainties. Innovation, meanwhile, remains the enduring engine of Asia-Pacific growth. As digitalization, green innovation and intelligent transformation accelerate, economies across the region are turning to new technologies and industries for momentum. The Putrajaya Vision 2040 highlights digital and innovation-driven development as key to achieving inclusive and sustainable growth in the post-Bogor era. From leading the world in new energy vehicle production to breakthroughs like the DeepSeek large language model, China is transforming "technological dividends" into "growth dividends," boosting cooperation and fostering new growth drivers for regional and global recovery. Multilateral cooperation is vital to making openness and innovation take root. APEC's strength lies in its principles of consultation, joint contribution and shared benefits in expanding convergence of interests across different development stages and systems. To advance win-win cooperation, the multilateral trading system centered on the World Trade Organization must be upheld, and we must say no to any attempt to politicize, weaponize, or impose security implications on economic and trade issues, or to use "de-risking" as a pretext for exclusion. At the recent "Shanghai Cooperation Organization Plus" Meeting in Tianjin, President Xi proposed the Global Governance Initiative, calling on all nations to uphold and practice true multilateralism. China has consistently called for discussing regional affairs together, building platforms and mechanisms together, and benefiting from cooperation together. Next year, China will host the APEC meetings -- a new starting point for deepening Asia-Pacific cooperation and a major opportunity for China to share the benefits of its high-quality development with regional partners. As South Korea and China are to consecutively host APEC gatherings, members are encouraged to revisit their original aspirations and missions, and to continue to open up, connect more, and cooperate more closely. Together, they can foster market complementarity, connectivity and rule alignment, and continue to promote Asia-Pacific cooperation and shared prosperity. 2025-10-29 16:01:40

Pyongyang answers Trump's overture with calibrated missile test SEOUL, October 29 (AJP) - U.S. President Donald Trump appeared to keep his hopes up for a rendezvous with North Korean leader Kim Jong-un during his short visit to South Korea for this year's Asia-Pacific Economic Cooperation events, and the North responded in a pointed yet carefully managed missile test. North Korea "conducted a test-fire of sea-to-surface strategic cruise missiles in the West Sea of Korea" on Tuesday, the state-run Korean Central News Agency (KCNA) reported the following day. The missiles flew about 7,800 seconds — roughly 130 minutes — before hitting a preset target. KCNA framed the launch as part of a broader effort to "steadily expand the sphere of application of war deterrents," presenting the test as a routine upgrade of its deterrence capacity. The timing coincided with Trump's touchdown in the southern port city of Busan and appeared to serve as Pyongyang's symbolic answer to the U.S. president's repeated public overtures for a meeting with Kim during his brief stay. Asked about the launch aboard Air Force One en route from Tokyo to Busan, Trump dismissed it lightly, saying Kim had been "launching missiles for decades." He reiterated that "at some point, we'll be involved with North Korea," adding that he hoped to meet the North Korean leader "not too distant future." Trump has been signaling openness to engagement since the start of his first Asia tour in his second presidency, focused on summits with ASEAN and APEC states as well as trade issues. He notably referred to North Korea as "a sort of a nuclear power," echoing Pyongyang's long-standing demand for implicit recognition of its nuclear status before talks resume with Washington. The measured missile test shows Pyongyang opting for leverage rather than immediate diplomatic reciprocation. Cho Han-bum, a senior researcher at the Korea Institute for National Unification, told AJP the launch was aimed at asserting North Korea's presence during a week when global attention is focused on the APEC summit. "APEC brings together countries across the Asia-Pacific," Cho said. "North Korea is part of the region, yet it cannot take part in the forum." He added that Foreign Minister Choe Son Hui's trip to Russia and her appearance at a Eurasian security meeting in Belarus also reflected Pyongyang's desire to remain visible during APEC week. The test's tone and design suggested deliberate restraint. Senior officials including Pak Jong Chon and Kim Jong Sik oversaw the launch, but Kim Jong-un did not attend — extending his recent pattern of skipping weapons tests to keep provocations controlled. Cho noted that cruise-missile activities do not violate U.N. Security Council resolutions and that firing inland from the sea rather than outward kept the provocation within managed limits. Still, the launch cast a muted shadow over the diplomatic choreography surrounding the APEC summit in Gyeongju, where Trump is scheduled to meet South Korean President Lee Jae Myung and Chinese President Xi Jinping. For Seoul, the episode underscores both the fragility of regional stability and the challenge of dealing with a Pyongyang that mixes provocation with strategic patience, while North Korea, with nothing to lose, would be content with the momentary spotlight. 2025-10-29 15:49:36

Lee rolls out red carpet for Trump as bilateral trade talks get underway SEOUL, October 29 (AJP) - U.S. President Donald Trump arrived in Gyeongju on Wednesday for the Asia-Pacific Economic Cooperation (APEC) summit and began the final leg of his Asia trip that included stops in Malaysia and Japan. Upon arrival, he headed to the CEO Summit as part of the APEC gathering and delivered a keynote speech, in which he said a trade deal with South Korea will be finalized "very soon," raising expectations for a possible breakthrough in stalled tariff-related negotiations between the two countries. The negotiations include how Seoul will fulfill its pledge to invest $350 billion in the U.S. agreed last Jury as part of a broader deal to lower reciprocal tariffs from 25 percent to 15 percent. Just ahead of the bilateral meeting with Trump later in the day which comes about two months after they first met in Washington, D.C. in August, President Lee Jae Myung decorated him with the Mugunghwa Medal, the country's highest honor, typically awarded to those who have made great achievements or significant contributions to the country. About 90 foreign leaders and their spouses have received the honor so far, with former President of West Germany Heinrich Lübke being the first in 1964, and Trump becoming the first U.S. president to receive it. The medal, produced by the Korea Minting and Security Printing Corporation, contains 712.5 grams of gold and 412.5 grams of silver and other alloys. The gold alone is valued at approximately 130 million Korean won or about US$91,000, reflecting a recent hike in prices. Trump also receive a gold-plated replica of the ancient Silla crown as a gift, symbolizing the summit's venue in Gyeongju, which was once the capital of the ancient kingdom of Silla that flourished for over 1,000 years. Earlier, Japan similarly rolled out the red carpet for him with lavish gifts including a gold-coated golf ball tailored to his taste and other gestures of flattery. 2025-10-29 15:41:45

SK Bioscience hosts Hilleman Institute board in Korea to deepen vaccine collaboration SEOUL, October 29 (AJP) - The board of the Hilleman Institute, a leading global vaccine research organization, visited SK Bioscience’s headquarters on Tuesday to explore deeper cooperation in vaccine development and manufacturing, the company said Wednesday. The visit marked a significant step in strengthening strategic ties between the two organizations. It was the first time the Hilleman Institute’s board — established by pharmaceutical giant MSD and the U.K.-based nonprofit Wellcome Trust — held a meeting in South Korea. The institute, based in Singapore, focuses on improving vaccine access and public health in low- and middle-income countries. During the visit, board members toured SK Bioscience’s research and production facilities, evaluating the company’s R&D infrastructure, manufacturing systems, and global commercialization capabilities. According to SK Bioscience, the delegation recognized the company’s potential as a collaborative hub for global vaccine research and production. Executives from both sides also held in-depth discussions on expanding joint research and technology exchange, building on their existing partnership. SK Bioscience and the Hilleman Institute signed a strategic collaboration agreement in 2023 to jointly develop a next-generation Zaire Ebola vaccine. Since then, the partnership has expanded to include process development, technology transfer, and vaccine candidate commercialization. “Hosting the Hilleman Institute’s board in Korea underscores the depth of our partnership,” said Ahn Jae-yong, president of SK Bioscience. “We look forward to expanding collaboration to strengthen the global vaccine supply chain and improve preparedness for infectious disease threats.” SK Bioscience aims to position itself as a central player in global vaccine research, leveraging partnerships with international health institutions to broaden access to next-generation immunization technologies. * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 15:35:27

Bank of Korea chief warns of risks from won-based stablecoin SEOUL, October 29 (AJP) - Bank of Korea Governor Lee Chang-yong voiced caution on Wednesday over the potential introduction of a won-denominated stablecoin, warning that such a digital currency could trigger capital outflows and heighten volatility in the currency market. “Many people might take the won stablecoin abroad, which is worrisome,” Lee told lawmakers during a parliamentary audit, stressing that a hasty rollout could pose financial stability risks. Lee said any move toward a stablecoin backed by the South Korean won should proceed in stages, beginning with limited tests led by commercial banks. “If foreign exchange outflows are well controlled, then we can expand,” he said. The governor also raised concerns that a won-based stablecoin could be exploited to evade regulations — an issue that has long troubled policymakers in South Korea. His comments came in response to Democratic Party lawmaker Ahn Do-geol, who advocated for the adoption of a domestic stablecoin. “My view is very different,” Lee said, emphasizing the need for prudence over speed. Lee added that even with the launch of a won stablecoin, demand for dollar-based digital currencies would likely persist, as many investors use them to shift assets into dollars. “The idea that dollar stablecoins will dominate our won payment market is premature,” he said, “but we must strengthen regulation as their use continues to grow.” * This article, published by Aju Business Daily, was translated by AI and edited by AJP. 2025-10-29 15:06:14