South Korea's President Lee warns protectionism and nationalism are rising

South Korea would lead multilateral cooperation to seek to find solutions, including for supply chain problems, he says

South Korean President Lee Jae Myung speaks during the opening ceremony of the APEC CEO Summit Korea 2025 in Gyeongju, South Korea, Oct 29, 2025. KIM MIN-HEE/Pool via REUTERS

South Korean President Lee Jae Myung said on Wednesday that the global economy was facing a crisis of rising protectionism and nationalism.

Speaking at the Asia-Pacific Economic Cooperation forum (APEC) CEO summit, Lee said South Korea would lead multilateral cooperation to seek to find solutions, including for supply chain problems.

"In an era where protectionism and nationalism are on the rise... the words 'cooperation, coexistence, and inclusive growth' may sound hollow," Lee said.

"Paradoxically, APEC's role as a platform for solidarity will shine even brighter in times of crisis like these."

Compared to 2005, when South Korea hosted another APEC summit, "the external environment surrounding APEC in 2025 is quite different," Lee said.

Lee said that as a responsible global power, South Korea could significantly contribute to restoring trust and cooperation within the APEC region, including for "supply chain cooperation".