By Diplomacy Journal Lee Kap-soo

H.S. Cho, Vice Chairman of HS Hyosung and current Chair of the APEC Business Advisory Council (ABAC), presided over the second ABAC meeting of 2025 held in Toronto, Canada, from May 23 to 26 (local time). As Chair, Cho led key discussions focused on enhancing international cooperation amid increasing global trade uncertainties.

Over the course of the four-day event, Cho chaired five working group sessions covering core areas of economic collaboration. The meeting opened with the ABAC Chair’s meeting and a welcome dinner for council members on the 23rd, and concluded with coordinated proposals for policy recommendations to be presented to APEC trade ministers from the 21 member economies.

One of the central themes was navigating the growing volatility in global trade. Participants debated its implications for economic activity in the Asia-Pacific region, and Cho successfully consolidated diverse perspectives into a unified message to APEC leaders. He also highlighted the importance of practical solutions—such as expanding the eligibility and scope of the APEC Business Travel Card—as a means of promoting free and open trade.

Cho used the opportunity to promote Korea’s strategic role in global supply chains and economic cooperation, particularly in the context of Korea–U.S. relations. Following his visits to Washington, D.C., last December as part of the Korea-U.S. Business Council and again in February with a Korean economic delegation, he has consistently emphasized Korea’s contributions to U.S. industries. He also urged the Korean government to push for trade balance metrics that more accurately reflect investment-related imports and service sector performance.

Throughout the Toronto meeting, Cho also played the role of an economic envoy—hosting and moderating key sessions including opening and closing ceremonies, welcome receptions, and gala dinners—all while showcasing Korea’s leadership in areas like AI and digital transformation. He encouraged global business and government leaders to attend the upcoming APEC Summit scheduled to be held in Gyeongju, South Korea, this October.

Cho is expected to attend the third and fourth ABAC meetings in Vietnam (July) and Busan, South Korea (October), respectively. He will help deliver the council’s policy recommendations to APEC leaders, ensuring they are reflected in national agendas.

In addition to his role as ABAC Chair, Cho is also a director of the Business and Industry Advisory Committee (BIAC) to the OECD and heads the Korea–Vietnam Economic Cooperation Committee, underscoring his active engagement in both global business and private-sector diplomacy.