Second Vice Minister of Finance and Economy Huh Chang attended the 2026 Asia-Pacific Economic Cooperation (APEC)^* Finance Ministers’ Meeting, held in Hong Kong, China, on October 20-21 under China’s chairmanship.

 ^* The largest regional economic cooperation forum, comprising 21 member economies, including Korea, the United States, and China, with the goal of promoting economic growth and prosperity in the Asia-Pacific region.

The meeting covered four major topics: (1) regional economic developments; (2) ways to expand investment in human capital and improve the efficiency of public spending while ensuring fiscal sustainability; (3) digital infrastructure financing; and (4) measures to improve financial access for vulnerable groups.

Notably, the key agenda items proposed by China as this year’s APEC chair align closely with the cooperation priorities set out in the Incheon Plan, which was developed under Korea’s 2025 APEC chairmanship. The Incheon Plan is a five-year medium-term roadmap beginning in 2026 that outlines the key areas of cooperation and implementation priorities for the APEC Finance Ministers’ Process. This year’s discussions were particularly meaningful in translating the Incheon Plan into concrete action and further advancing regional fiscal and financial cooperation.

During Session 3 on “Digital Infrastructure Financing,” held on the first day of the meeting, Second Vice Minister Huh delivered remarks introducing Korea’s National Growth Fund as an example of policy financing in which public funds serve as a catalyst for private investment. He highlighted the role of public capital and the importance of mobilizing private financing in future growth industries that require large-scale investment. He also outlined the government’s plans to establish a strategic sovereign wealth fund backed by public resources to provide long-term patient capital to strategic industries, including digital infrastructure, and serve as an anchor investor to attract global and private capital.

On the sidelines of the meeting, Second Vice Minister Huh held bilateral meetings with chief delegates from major economies, including New Zealand, Canada, and China, as well as senior officials from international organizations such as the Organisation for Economic Co-operation and Development (OECD) and the Asian Infrastructure Investment Bank (AIIB).

In his meeting with New Zealand, the two sides discussed ways to strengthen cooperation in high-tech industries of the future, including artificial intelligence (AI), as well as supply chain cooperation to address geopolitical risks. During his meeting with Canada, the two sides shared their respective policy approaches to establishing strategic sovereign wealth funds. They also welcomed the progress made in bilateral supply chain cooperation, including in critical minerals, and agreed to further broaden the scope of economic cooperation based on these achievements.

Second Vice Minister Huh expressed appreciation to China for successfully chairing this year’s APEC Finance Ministers’ Meeting and proposed continued economic and financial cooperation through multilateral forums, including APEC and G20 finance ministers’ meetings. In response, the Chinese side noted that it had been able to successfully conclude this year’s meeting by building on the achievements of Korea’s chairmanship last year and expressed hope for further development of Korea-China relations.

Second Vice Minister Huh also strengthened cooperation with international organizations through meetings with the OECD and the AIIB. He explained that Korea’s economic recovery remained robust, with real gross domestic product (GDP) growth expected to reach the 3 percent range this year. OECD Secretary-General Mathias Cormann responded that he also held a positive outlook for the Korean economy in 2026. In his meeting with the AIIB, Vice Minister Huh focused discussions on expanding employment opportunities for highly qualified Korean professionals at the institution and strengthening infrastructure investment cooperation between Korean companies and the AIIB. AIIB President Zou Jiayi expressed her commitment to continuing to deepen the bank’s partnership with Korea.

Please refer to the attached files.