APEC Summit Tackles Challenges of AI and Demographic Shifts

South Korean President Lee Jae Myung expressed his hope for collaboration with Asia-Pacific countries to tackle pressing issues such as artificial intelligence and demographic changes. This call to action was made during a prominent annual gathering of the Asia-Pacific Economic Cooperation (APEC) forum on Saturday.

Among the distinguished attendees were Chinese President Xi Jinping and U.S. Treasury Secretary Scott Bessent, who participated in discussions centered on navigating the swift adoption of AI technologies. These discussions also addressed the implications of demographic shifts leading to aging populations and declining birth rates. Notably, the APEC bloc is influential, comprising 50% of global trade and contributing to 61% of the world's GDP.

President Lee highlighted South Korea's proposal for an APEC-wide framework aimed at collectively addressing what he described as a demographic crisis. He articulated the profound impact of demographic changes on various societal facets, including economic growth, the labor market, and welfare services, while stressing the need for comprehensive and collective strategies.