At the end of this month, over 1,700 global economic leaders, including Jensen Huang, CEO of NVIDIA, will gather in Gyeongju, Gyeongsangbuk-do for the Asia-Pacific Economic Cooperation (APEC) CEO Summit. It is analyzed that the economic effect of this APEC could reach KRW 7.4 trillion.

The Korea Chamber of Commerce and Industry announced on the 19th that approximately 1,700 business and economic leaders, along with 16 top-level figures from the 21 APEC member countries, will attend the CEO Summit held at the Gyeongju Arts Center from the 28th to the 31st. The event will be chaired by Chey Tae-won, Chairman of SK Group and the Korea Chamber of Commerce and Industry. Chairman Chey will oversee the entire event, starting with a welcome dinner on the 28th, followed by an opening address on the 29th, and concluding with a closing address and chair handover ceremony on the 31st.

● Chey Tae-won personally invites Jensen Huang

Among the global tech giants visiting Gyeongju, the most notable figure is CEO Huang. It is reported that Chairman Chey personally delivered the invitation to CEO Huang, facilitating his visit to Korea. According to industry sources, CEO Huang is scheduled to deliver a keynote speech at the CEO Summit on the 31st and hold a press conference. He is expected to engage in discussions on various fields, including artificial intelligence (AI), robotics, and autonomous driving technology.

During the event, CEO Huang is expected to have separate meetings with Chairman Chey and Lee Jae-yong, Chairman of Samsung Electronics. Samsung Electronics and SK Hynix supply high-bandwidth memory (HBM) to NVIDIA. If CEO Huang, Chairman Lee, and Chairman Chey meet during this APEC, discussions on strengthening HBM supply and AI cooperation between NVIDIA and Korean companies are anticipated.

Other big tech executives visiting Gyeongju include Matt Garman, CEO of Amazon Web Services (AWS), Simon Kahn, Vice President of Google Asia Pacific, Simon Milner, Vice President of Meta, and Anthony Cook and Ulrich Homann, Vice Presidents of Microsoft. Initially, there were expectations that Tim Cook, CEO of Apple, and Sam Altman, founder and CEO of OpenAI, would participate in this APEC CEO Summit, but their names are currently not on the attendee list. However, a representative from the Korea Chamber of Commerce and Industry stated, “The attendee information will be updated in the future,” indicating the possibility of additional participants.

Executives from financial, manufacturing, and energy companies from various countries will also gather in Gyeongju. Jane Fraser, CEO of Citigroup, Joaquin Duato, CEO of Johnson & Johnson, and Daniel Pinto, Vice Chairman of JPMorgan, will attend. From China and Japan, major business figures such as Zeng Yuqun, Chairman of CATL, Li Fanrong, Chairman of Sinochem, Toshiaki Tokunaga, CEO of Hitachi, and Masayuki Omoto, CEO of Marubeni, will be present. International organization figures such as Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), and Mathias Cormann, Secretary-General of the Organization for Economic Cooperation and Development (OECD), will also participate in the APEC CEO Summit. It is expected that the heads of Korea's four major conglomerates will all attend.

● “APEC economic effect KRW 7.4 trillion”

According to a joint analysis by the Korea Chamber of Commerce and Industry and global consulting firm Deloitte, the economic effect of this APEC is expected to be approximately KRW 7.4 trillion, with an employment creation effect of 22,000 jobs. Park Il-jun, Executive Vice Chairman of the Korea Chamber of Commerce and Industry, stated, “The Gyeongju APEC CEO Summit will be a historic turning point in enhancing Korea's international status and securing new growth engines in the AI era.”

The theme of this APEC CEO Summit is ‘Bridge, Business, Beyond (3B)’, focusing on △regional economic integration △AI and digital transformation △sustainability △finance and investment △bio and health. A total of 85 speakers will participate in 20 sessions. In addition to official events, various events such as the Future Tech Forum, K-Tech Innovation Showcase, and K-Beauty Experience Center, covering AI, defense, shipbuilding, digital assets, energy, and distribution, are prepared.

This year's APEC CEO Summit aims for direct communication between national leaders and global corporate CEOs. Participating companies can conduct one-on-one business meetings with APEC leaders or ministers to discuss investment and cooperation. The Korea Chamber of Commerce and Industry stated, “This CEO Summit is expected to focus on global agendas such as establishing AI ethics and norms, expanding ESG (environmental, social, and governance) investment, and bridging the digital divide,” adding, “APEC will evolve beyond a mere economic consultative body.”

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