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Deputy Prime Minister and Finance Minister Koo Yoon-cheol visits a corporate exhibition booth during the APEC Finance Ministers’ Meeting at Inspire Resort in Incheon on October 21. / Source: Ministry of Economy and Finance

At the 32nd APEC Finance Ministers’ Meeting held in Incheon, South Korea on October 21, member economies unanimously adopted the “Incheon Plan,” a five-year roadmap outlining the Asia-Pacific region’s direction for economic cooperation. For the first time, South Korea successfully introduced artificial intelligence (AI) as a core agenda item, securing its inclusion in the joint statement covering AI infrastructure, talent development, and public-private partnerships.

The meeting, hosted at the Inspire Resort in Incheon, was the first APEC finance ministers’ gathering held in Korea in 20 years. Attendees included finance ministers from Thailand, Australia, New Zealand, Vietnam, Hong Kong, and Taiwan, as well as vice ministers from China, Japan, and Brunei. Representatives from major international institutions — the IMF, OECD, World Bank, ADB, and IDB — also joined discussions on regional economic cooperation.

Deputy Prime Minister and Finance Minister Koo Yoon-cheol opened the session by emphasizing APEC’s founding spirit of solidarity and integration amid challenges such as policy uncertainty, demographic change, and climate risk. Koo presided over discussions on global and regional economic outlooks, digital finance, and fiscal policy before announcing the adoption of the “Incheon Plan,” which all 21 member economies endorsed unanimously.

The new roadmap succeeds the 2015 “Cebu Action Plan,” whose term ended this year. The Incheon Plan identifies key themes for the next five years — innovation, finance, fiscal policy, and inclusive access and opportunity — along with specific sub-agendas. Each future APEC host economy, starting with China next year, will set its annual priorities based on the plan’s framework.

South Korea made history by introducing AI as a core subject for the first time at an APEC finance ministers’ meeting. The final communiqué highlights cooperation on AI infrastructure, workforce training, ecosystem development, and joint R&D, aligning closely with Korea’s national policy goals of innovation-driven growth. Seoul also guided discussions on SME financing, capital-market advancement, and fiscal roles in supporting sustainable growth.

In addition, the plan expands the scope of financial inclusion by designating “access and opportunity for all” as an independent pillar of the Incheon framework. This is expected to broaden APEC’s focus beyond pure economic growth toward fairer, more inclusive policy debates across the region.

The agreement was reached just one week ahead of the APEC Leaders’ Summit, adding weight to its timing. In an era of shifting global trade and AI technology competition, participants reaffirmed APEC’s role as a forum for dialogue, mutual respect, and policy coordination.

On the sidelines, Deputy Prime Minister Koo held bilateral meetings with counterparts from Australia, New Zealand, Vietnam, and Hong Kong to discuss supply-chain cooperation, AI innovation, and structural reform. A business exhibition held alongside the conference showcased major Korean companies and institutions under themes including digital transformation and AI innovation, digital finance and inclusion, and sustainability for the future.