(Adds dropped word in APEC title in paragraph 2) GYEONGJU, South Korea (Reuters) -South Korean President Lee Jae Myung said on Wednesday that the global economy was facing a crisis of rising protectionism and nationalism. Speaking at the Asia-Pacific Economic Cooperation forum (APEC) CEO summit, Lee said South Korea would lead multilateral cooperation to seek […]
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South Korea’s President Lee warns protectionism and nationalism are rising
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(Adds dropped word in APEC title in paragraph 2)
GYEONGJU, South Korea (Reuters) -South Korean President Lee Jae Myung said on Wednesday that the global economy was facing a crisis of rising protectionism and nationalism.
Speaking at the Asia-Pacific Economic Cooperation forum (APEC) CEO summit, Lee said South Korea would lead multilateral cooperation to seek to find solutions, including for supply chain problems.
“In an era where protectionism and nationalism are on the rise… the words ‘cooperation, coexistence, and inclusive growth’ may sound hollow,” Lee said.
“Paradoxically, APEC’s role as a platform for solidarity will shine even brighter in times of crisis like these.”
Compared to 2005, when South Korea hosted another APEC summit, “the external environment surrounding APEC in 2025 is quite different,” Lee said.
Lee said that as a responsible global power, South Korea could significantly contribute to restoring trust and cooperation within the APEC region, including for “supply chain cooperation”.
(Reporting by Ju-min Park, Jihoon Lee; Writing by Joyce Lee; Editing by Ed Davies)