Global Tycoons Flock to South Korea for APEC Summit

The South Korean government and business community are leveraging the upcoming Asia-Pacific Economic Cooperation (APEC) summit to invite global tycoons to business events in a bid to boost international partnerships and investment. Industry sources suggest that China's Alibaba CEO Eddie Wu and the CEOs of Nvidia Corp. and OpenAI are among those who may attend the summit, held from October 28 to 31 in Gyeongju. As South Korea prepares to host the APEC meeting next year, the country is seeking to strengthen ties with global leaders and companies, particularly in the rapidly growing artificial intelligence (AI) industry.

Key Takeaways:

• The APEC CEO Summit, co-hosted by the industry ministry and the Korea Chamber of Commerce and Industry (KCCI), will bring together 1,700 participants from APEC member economies and global companies.
• Jensen Huang, CEO of Nvidia Corp., is expected to attend the summit and hold a special session on October 31 on the artificial intelligence industry.
• Huang's visit could lead to a meeting with APEC member leaders and potential visits to production lines of South Korean technology giants Samsung Electronics Co. and SK hynix Inc.
• OpenAI CEO Sam Altman, alongside Alibaba CEO Eddie Wu, is also reportedly planning to attend the APEC summit.
• Nvidia has been emerging as a key partner for major countries and businesses amid the AI boom, while OpenAI is expanding its Seoul office as its 12th worldwide and third in Asia.
• South Korea is seeking to host Chinese business leaders, including Eddie Wu, amid preparations to host the APEC meeting next year.

Statistics:

• 1,700 participants from APEC member economies and global companies are expected to attend the APEC CEO Summit.
• October 28 to 31 is the scheduled dates for the APEC CEO Summit.
• Nvidia has established 72 offices worldwide, with OpenAI Korea being its third office in Asia, after the US and Singapore.

Sources:

• Philippines News agency
• Industry sources
• OpenAI