Cho Hyun-sang, right, chair of the APEC Business Advisory Council, presides over a meeting in Australia in this undated photo. Courtesy of Korea Chamber of Commerce and Industry

The first meeting of the Asia-Pacific Economic Cooperation (APEC) Business Advisory Council, known as ABAC, focused on business cooperation and economic integration within the region, a key area of discussion ahead of Korea's hosting of the 2025 APEC Economic Leaders' Meeting in November, the Korea Chamber of Commerce and Industry (KCCI) said Wednesday.

The ABAC meeting, co-hosted by the KCCI, which serves as the Korean ABAC Secretariat, and the Australian ABAC Secretariat, took place in Brisbane, Australia, from Sunday to Tuesday, gathering over 200 prominent business leaders and more than 20 senior APEC officials.

Korean representatives included Cho Hyun-sang, vice chairman of HS Hyosung, newly elected ABAC Chair for 2025, Lee Kyu-ho, vice chairman of Kolon Group, and Lee Joo-wan, founder of Megazone Cloud.

The 2025 ABAC meetings were divided into five working groups: regional economic integration, sustainability, artificial intelligence (AI) and digital, finance and investment and bio and health care. The latter two were newly introduced this year in response to growing industrial demand.

One critical issue addressed was the soaring energy consumption of data centers driven by AI growth. ABAC members agreed on the urgent need to build sustainable and energy-efficient data centers using clean energy to mitigate digital regional disparities. The discussion also highlighted the potential negative impacts of digital taxes on AI collaboration, urging reconsideration of such policies at the APEC level.

Additionally, the bio and health care group discussed the need for AI-driven smart health care solutions, such as intelligent medical systems, to innovate the sector. This is increasingly important given the aging population in the APEC region and the resulting economic challenges.

ABAC members also explored strategies to combat rising protectionism and global supply chain uncertainties, emphasizing the importance of strengthening multilateral trade frameworks like the Free Trade Area of the Asia-Pacific and restoring the World Trade Organization framework.

Furthermore, they discussed the expansion of low-carbon investments through advanced technologies and bridging infrastructure investment gaps across the APEC region as digital and energy transitions progress.

"As the global economy becomes increasingly fragmented, regional frameworks play a crucial balancing role, and APEC, in particular, has established itself at the center of global economic activity and investment. We must continue our efforts to ensure inclusive and sustainable prosperity for our communities and a stable future," Cho said.

He reaffirmed Korea's commitment to driving economic growth and ensuring a successful 2025 APEC event.