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Korea Herald
27-05-2025
- Business
- Korea Herald
KCCI chair meets Japan PM, calls for closer trade ties
Korea Chamber of Commerce and Industry Chairman Chey Tae-won, who also heads SK Group, met with Japanese Prime Minister Shigeru Ishiba on Tuesday in Tokyo, calling for close economic cooperation between the two countries. The meeting came as Seoul and Tokyo mark the 60th anniversary of the normalization of diplomatic relations, according to the KCCI. Chey was joined by Park Il-joon, executive vice chairman of KCCI and Lee Hyung-hee, vice chairman of Seoul Chamber of Commerce and Industry and president of SK Supex Council. 'At a time when both Korea and Japan are facing difficulties due to the spread of global protectionism, including reciprocal tariffs from the US, there is a need for the two countries to deepen bilateral economic cooperation,' Chey was quoted as saying to Ishiba, requesting the Japanese government's support and attention for corporate activities for both countries. Chey also asked for Ishiba's interest in the upcoming APEC CEO Summit to be held in Gyeongju, North Gyeongsang Province, in October, hosted by KCCI. He also requested participation from leading Japanese companies. Following the meeting with Ishiba, Chey visited the Japan Chamber of Commerce and Industry, where he met with Chairman Ken Kobayashi. The visit was Chey's first to the JCCI in three years, with discussions centering on the upcoming bilateral chamber meeting and ways to enhance collaboration between the two organizations. The 14th chairs' meeting of the KCCI and JCCI is expected to take place in South Korea later this year. Chey is also expected to attend the 30th Nikkei Forum on the Future of Asia from Thursday to Friday. Last year, he participated as a speaker and stressed the importance of Korea-Japan cooperation.
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Korea Herald
13-05-2025
- Business
- Korea Herald
[Contribution] Why APEC economic leaders must confront demographic crisis
By Joo Hyung-hwan, vice chair of the Presidential Committee on Ageing Society and Population Policy At the end of this October, the leaders from across the Asia-Pacific will gather in Gyeongju for the APEC Economic Leaders' Meeting, held under the theme, 'Building a Sustainable Tomorrow.' One of the most urgent and widely shared challenges facing APEC member economies is the demographic shift driven by low fertility rates and rapidly ageing populations. As the country with the world's lowest birth rate and the fastest-ageing population, Korea — this year's APEC chair — has identified 'Responding to Demographic Change in the Asia-Pacific Region' as a key deliverable of the meeting. This is a challenge that must be addressed head-on to ensure long-term sustainable development. In June last year, Korea declared a national emergency about the population and has since held monthly emergency population response meetings to advance policies tackling low birth rates and ageing. To foster a shared understanding among APEC member economies that demographic change is a common and pressing concern, Korea should consider proposing the 'Gyeongju Declaration on Joint Response to Demographic Change' as the flagship outcome of this year's Economic Leaders' Meeting. This declaration would outline clear, collective goals for the Asia-Pacific region and signal the beginning of deeper regional cooperation on one of the defining issues of our time. To that end, working-level groups must engage in substantive, in-depth discussions on population-related challenges. Joint research among member economies' institutions — alongside focused ministerial meetings — should address key areas such as balancing work and family, affordable and high-quality child care and elderly care systems, sustainable pension reform, labor market issues including continued employment for seniors and migration, as well as education, gender equality and the silver economy. The APEC CEO Summit and related business forums, held in parallel with the Economic Leaders' Meeting, also offer timely platforms to elevate the population agenda. The idea of inviting Elon Musk as a special guest for a dialogue session could be considered. In 2022, Musk claimed that Korea is "tracking to lose about half its population roughly every generation' — a claim that, if it were actually true, could catalyze high-level conversations among global leaders, innovators and business executives. In addition, Korea could propose hosting an 'Age-Tech Exhibition' as a side event, with full participation from APEC member economies. As cutting-edge technologies — such as AI, IoT, robotics and biotechnology — converge with senior care solutions. With population ageing accelerating globally, what some in Korea call "age-tech" is emerging as a new growth engine. Hosting such an exhibition would not only showcase Korea's technological leadership, alongside recent technological developments from other member economies, but also foster meaningful cross-border collaboration and industry growth. Another ambitious idea is the establishment of a joint fund for responding to population change, aimed at strengthening cooperation among APEC economies and supporting developing countries facing similar demographic pressures. Korea already has experience in hosting international organizations with the establishment of the Green Climate Fund and the Global Green Growth Institute to support sustainable development. Korea will be able to take the lead once again in designing a collective response to a defining long-term issue. The upcoming APEC Economic Leaders' Meeting — returning to Korea for the first time in two decades — represents a pivotal opportunity to revitalize the Korean economy and reaffirm its role in regional leadership. Its success is not only a national imperative but also a chance to help shape the global agenda. By proposing bold, forward-thinking initiatives that align with global trends and offer shared value, Korea can turn the historic city of Gyeongju into a global forum for demographic dialogue. If meaningful strategies emerge, the APEC 2025 will be remembered as one of the most impactful in APEC's history.
Forbes
30-03-2025
- Business
- Forbes
Business Tech News: OpenAI's New Image Generator Is Melting Servers
SAN FRANCISCO, CALIFORNIA - NOVEMBER 16: OpenAI CEO Sam Altman looks on during the APEC CEO Summit ... More at Moscone West on November 16, 2023 in San Francisco, California. The APEC summit is being held in San Francisco and runs through November 17. (Photo by) Here are five things in tech that happened this week in business tech news and how they affect your business. Did you miss them? This week OpenAI released a powerful image generator tool as part of its ChatGPT offerings that displays incredibly vivid images. It's become so viral that the company says demand is 'melting' their GPUs! (Source: Open AI, CNBC) The image generator's capabilities are extremely powerful and can have an enormous impact on your company's marketing and branding. According to the company: 'GPT-4o image generation excels at accurately rendering text, precisely following prompts, and leveraging 4o's inherent knowledge base and chat context—including transforming uploaded images or using them as visual inspiration. These capabilities make it easier to create exactly the image you envision, helping you communicate more effectively through visuals and advancing image generation into a practical tool with precision and power.' Check out this X post for some great examples. LinkedIn has introduced updates to its Campaign Manager, aiming to enhance marketers' success. Key features include a Media Planner for forecasting campaign results, dynamic UTMs for easier tracking, and improved dashboards for detailed performance insights. Additionally, an AI-driven Campaign Performance Digest provides plain-text explanations of campaign strengths and weaknesses. (Source: LinkedIn) According to the company, these updates focus on refining strategies, optimizing ad spend, and simplifying campaign management. Included are comments/reviews from business owners who have used these tools to enhance their campaigns. LinkedIn Campaigns are more expensive than most other social media platforms but then again you get what you pay for: access to excellent B2B data. These tools can be a big help to marketers that lean heavily on this platform. Cybersecurity company VikingCloud has published some very telling research. Among professionals in the US, UK and Ireland, 40 percent of cybersecurity teams admitted they have avoided reporting cyber incidents due to fear of job loss. This underreporting highlights a significant gap in addressing cyber breaches globally. Despite this, 96 percent of companies surveyed expressed confidence in their ability to detect and respond to attacks in real-time, which may lead to a false sense of security. Additionally, 68 percent of teams admitted they couldn't meet the Securities and Exchange Commission's new four-day disclosure rule for cyber incidents. The report emphasizes the challenges faced by cybersecurity professionals and the need for improved resilience and response strategies. (Source: Business Wire) Yes, this is very eye opening! Imagine not knowing about a security breach because your IT team doesn't want to admit it! This is all about company culture and having an environment where people don't have to be afraid to make mistakes. Take this information seriously and have a heart to heart with your tech people. It's better to know than not-to-know. has introduced a voice-activated AI Meeting Agent that can actively participate in virtual meetings. This agent can answer questions, schedule follow-ups, draft emails, and perform other tasks based on meeting data. Initially compatible with Zoom, it will soon support Microsoft Teams and Google Meet. Otter also launched specialized agents for sales and product demos, aiming to streamline workflows and enhance productivity. The company has said it plans to release more 'vertical' agents in the future. (Source: Engadget) I've turned a few of my clients on to this app because it does meetings so well. I think its best capabilities are when you use it on your mobile device in face to face meetings, rather than just online. Taking advantage of when you're at a customer allows you to focus more on the relationships and not worry about taking notes and actions. If you're going to lean into this app, I recommend using it when you're onsite, not just online. HoneyBook has unveiled its next phase of AI-powered business management tools, designed to help service-based entrepreneurs streamline operations and boost growth. By embedding AI directly into workflows, HoneyBook enables automation that is seamless and proactive. The company claims that entrepreneurs using HoneyBook AI have reported significant benefits, including doubling their project bookings and achieving 94 percent higher gross payment volume. The platform also helps users save up to three hours per week on manual tasks, allowing more time for client work and business growth. (Source: Yahoo Finance) For small businesses in the service sector HoneyBook is a powerful tool to help both marketing and the implementation of services. As the company leans more into AI – like many other companies like it – you can expect more time savings and better productivity. Definitely an application worth trying. Each week I round up five business technology stories that impact small businesses and then explain why. Hope you enjoy!
Korea Herald
18-03-2025
- Business
- Korea Herald
APEC Summit in Gyeongju to boost economy by W7.4tr: KCCI
The Korea Chamber of Commerce and Industry, in collaboration with Deloitte Consulting, has projected that the upcoming Asia-Pacific Economic Cooperation Summit in Gyeongju, North Gyeongsang Province, in October will generate an estimated 7.4 trillion won ($5.1 billion) in economic benefits. According to an analysis released on Tuesday, the short-term direct effects -- including economic stimulation and increased domestic consumption -- are expected to amount to 3.3 trillion won. Meanwhile, the medium-to-long-term indirect effects, encompassing economic and social benefits, are estimated to reach 4.1 trillion won. Additionally, the summit is expected to create about 22,634 jobs. To maximize APEC's economic impact and invigorate regional industries, KCCI is planning a series of events, including the Future Tech Summit, which will highlight cutting-edge technology; the K-Tech Showcase, where Korean companies will exhibit their technological capabilities; and a Learning Program aimed at fostering cultural exchange and networking. APEC, an international forum established to enhance economic cooperation among countries in the Asia-Pacific region, comprises 21 member economies. During the APEC Summit, KCCI will host the APEC CEO Summit, a high-profile gathering of global business leaders and government representatives, as well as meetings of the APEC Business Advisory Council. To ensure the smooth execution of the events, KCCI has established the APEC CEO Summit Organizing Committee and the ABAC Korea Secretariat. KCCI Chairman Chey Tae-won, who is also chairman of SK Group, visited Gyeongju on Monday to oversee preparations for the 2025 APEC CEO Summit. Chey, who chairs the 2025 APEC CEO Summit, conducted a two-day inspection of the summit venues, accompanied by KCCI Vice Chairman Park Il-jun and Seoul Chamber of Commerce Vice Chairman Lee Hyung-hee. During a roundtable discussion on Economic Revitalization through the APEC CEO Summit, attended by North Gyeongsang Province Governor Lee Cheol-woo and Gyeongju Mayor Joo Nak-young, Chey underscored the significance of the event. 'The APEC CEO Summit is a crucial platform where economic leaders of the Asia-Pacific region will gather to discuss future growth and cooperation strategies,' he said. He further stressed, 'I hope local governments and businesses will collaborate closely to ensure that the summit catalyzes a revitalization not only of Gyeongju and North Gyeongsang Province but also the broader regional economy.' Ahead of the meeting, Chey visited the Gyeongju Arts Center, one of the candidate venues for the APEC CEO Summit, where he conducted an on-site inspection of key facilities, including participant accommodations, the welcoming banquet venue and other auxiliary event locations. 'The APEC business event is a critical opportunity to showcase Korea's innovation capabilities and future vision. We will work closely with the government, local authorities, and businesses to ensure a successful and impactful summit,' a KCCI official said.
Korea Herald
05-02-2025
- Business
- Korea Herald
AmCham chief joins promotion committee for APEC CEO Summit
The American Chamber of Commerce in Korea announced Wednesday that Chair and CEO James Kim has been appointed as a member of the promotion committee for this year's Asia-Pacific Economic Cooperation CEO Summit. The 2025 APEC CEO Summit, set for Oct. 28-31 in Gyeongju, North Gyeongsang Province, will serve as a key platform for global business leaders, policymakers and thought leaders to exchange insights on pressing economic challenges and emerging industries such as energy transition, digital innovation, AI and health care. The promotion committee, led by SK Group Chairman Chey Tae-won, who doubles as head of the Korea Chamber of Commerce and Industry, was created to ensure a successful summit launch. Its members, including newly appointed CEO Kim, along with CEOs of Korea's leading conglomerates and heads of foreign chambers of commerce, will work to invite key figures to the event and enhance APEC's international presence. 'It is a tremendous honor to contribute to this important initiative. AmCham is committed to working closely with KCCI Chair Chey Tae-won, Vice Chair Park Il-joon, and their dedicated team to ensure the success of APEC 2025,' Kim said. Kim added that the summit is not only an opportunity to foster public-private collaboration and drive sustainable economic growth across the Asia-Pacific region, but also a premier platform to showcase Korea's resilience and strategic importance within the global supply chain. Chairman Chey Tae-won also expressed confidence in Kim's contributions, stating, "I have no doubt that CEO Kim's outstanding leadership and global business expertise will add tremendous value to the committee." To further support the initiative, AmCham also plans to establish an APEC 2025 Committee, comprising senior executives from major US companies, to work closely with KCCI and ensure the event's success.
