Marcos now in South Korea for APEC Summit

BUSAN — President Ferdinand “Bongbong” Marcos Jr. on Thursday afternoon arrived in South Korea to participate in the 32nd Asia-Pacific Economic Cooperation (APEC) Summit. 

The plane carrying the President and the entire Philippine delegation landed in Gimhae Air Base at 5 p.m. local time (4 p.m. in the Philippines).

Marcos was set to meet with the Filipino community prior to attending matters related to APEC.

This year’s APEC theme, “Building a Sustainable Tomorrow,” reflects the Republic of Korea’s commitment to building a sustainable and inclusive future in line with the APEC Putrajaya Vision 2040 by addressing shared challenges and harnessing opportunities in digitalization and innovation. 

Marcos will deliver a speech at the APEC CEO Summit on persistent challenges such as regulatory fragmentation, uneven digital infrastructure, and supply chain risks. 

He will also emphasize the role that the private sector can play to ensure APEC and ASEAN initiatives translate into real benefits for their stakeholders. 

In his departure speech in Manila, the Philippine leader said the immense economic gravity of the APEC region should be recognized.

“It accounts for nearly 46% of global trade in goods and commercial services and generates roughly 61% of the total global GDP,” Marcos said. 

“So, given these high stakes, this gathering is imperative. We convene at a critical juncture, defined by evolving geopolitical landscapes, supply chain disruptions, threats of climate change, and the urgent need for equitable and inclusive growth,” he added.

Manila is a founding member of APEC, and the majority of the Philippines’ economic and commercial transactions around the world occur within the confines of the 21 member economies of APEC. 

As of 2024, APEC economies account for 84% of the total trade of the Philippines globally. 

South Korea, meanwhile, was the Philippines' fifth major export market and fourth-largest import supplier in 2024.  — VBL, GMA Integrated News