At the Asia-Pacific Economic Cooperation (APEC) Finance Ministers’ Meeting, Deputy Prime Minister and Minister of Economy and Finance Koo Yun-cheol emphasized that “applying artificial intelligence across all sectors of society is the only solution to raise the potential growth rate.”
In his opening remarks at the 32nd APEC Finance and Structural Reform Ministers’ Meeting held in Incheon this morning, Deputy Prime Minister Koo stated, “AI is reshaping not only our technology but also our economy, society, and the way we live and work.” He added, “This is an impending reality that we must all prepare for, just as the industrial revolution was in the past, rather than something new or optional.”
Deputy Prime Minister Koo further introduced that “South Korea is prioritizing the AI transformation as a top policy priority in the desperate belief that applying AI across all sectors of society is the only way to increase the potential growth rate.”
The finance ministers’ meeting, which continues from today until the day after tomorrow, is the last sector-specific ministerial meeting before the APEC Summit in Gyeongju next week. Economic sector officials from 21 member countries will engage in extensive discussions on innovation, finance, fiscal policy, and structural reform.
At the conclusion of the meeting, the so-called ‘Incheon Plan,’ a new five-year medium-term roadmap for APEC member countries, is expected to be adopted.