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APEC(Asia-Pacific Economic Cooperation) APEC is a dialogue group for facilitationg economic growth, cooperation, trade and inverstment in the Asia-Pacific region.

ROK - APEC Relations

  • The Asia-Pacific Economic Cooperation(APEC) is an economic forum for a group of Pacific Rim countries to discuss matters on regional economy, cooperation, trade and investment. Ministers from the member economies meet on a continual basis throughout the year. The activities are coordinated by the APEC Secretariat based in Singapore.

    The organization conducts the APEC Economic Leaders Meeting, an annual summit attended by the heads of government of all APEC members. The location of the summit rotates annually among the member economies.

    Korea has been a participant of the APEC ever since its launch in 1989, hosted the meeting twice and has been actively involved in all its areas of cooperation.

    The 2005 APEC Summit was held in Busan, Korea. The meeting focused on the Doha Round of World Trade Organization(WTO) negotiations, leading up to the WTO Ministerial Conference of 2005 held in Hong Kong in December.

    At the 2010 APEC Leaders’ Meeting, held in Yokohama, APEC Leaders gathered under the theme “Change and Action” to “articulate our vision of further building and integrating the Asia-Pacific region in the 21st Century, and paths to realize that vision.” APEC Leaders adopted a declaration called “Yokohama Vision” as well as a Leaders’ Statement on 2010 Bogor Goals Assessment, the APEC Leaders’ Growth Strategy and Pathways to FTAAP. Korea voluntarily participated in the 2010 Bogor Goals assessment without prejudicing its status as “developing economy.”

  • APEC's Main Goals

    Key to achieving APEC's vision are what are referred to as the 'Bogor Goals' of free and open trade and investment in the Asia-Pacific by 2010 for developed economies and 2020 for developing economies. These goals were agreed by APEC Economic Leaders in Bogor, Indonesia in 1994. To achieve these goals APEC Member Economies developed a framework in Osaka, Japan in 1995, which set out three key areas of cooperation. Known as the 'Three Pillars' of APEC, these are the areas of Trade and Investment Liberalization, Business Facilitation, and Economic and Technical Cooperation.

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