Asia-Pacific

S. Korea PM Urges Solidarity in Face of Economic Uncertainty, Hails Ftas for Trade Stability

Courtesy of The Korea Herald
South Korean Prime Minister Kim Min-seok speaks at a forum in Seoul on Thursday.

The Japan News

20:00 JST, October 3, 2025

SEOUL — South Korea’s prime minister emphasized the importance of international solidarity and cooperation as the global economy faces uncertainty and instability, speaking at a forum held in Seoul on Thursday.

“The global economy is now facing unprecedented uncertainty and instability, a global economic slowdown, escalating geopolitical tensions, the restructuring of global supply chains, and sweeping changes in the international trade order,” Prime Minister Kim Min-seok said at a forum organized by The Korea Herald and joined by Asia News Network (ANN).

ANN is a regional alliance of news organizations meant to bring the region closer together through an active sharing of editorial content on happenings in the region. The Japan News and The Korea Herald are members of the alliance.

In his remarks, Kim said these crises and challenges can be overcome through the efforts of individual nations along with “international solidarity and cooperation.”

In this effort, Kim said “discussions are underway” to review negotiations on a free trade agreement among South Korea, China and Japan. The FTA “will serve as a framework to enhance the stability of the trade.”

The three countries held an economic and trade ministers’ meeting for the first in about five years in Seoul in March. The three ministers released a joint statement that included a call to accelerate the FTA negotiations that began in 2012.

This year, South Korea will host the Asia-Pacific Economic Cooperation (APEC) summit scheduled for Oct. 31-Nov. 1 in Gyeongju in southeastern South Korea.

At the summit, the South Korean government aims to share with the world “our future vision for AI through the launch of the APEC AI Initiative.”

Kim told the forum audience, which included business executives, “The Korean government will stand together with you to ensure that advancements in cutting-edge technologies not only help us overcome complex crises, but also become a driving force for addressing global challenges and fostering innovation and prosperity.”