Korea has contributed USD 1 million to the APEC Support Fund to launch a new Sub-Fund on Prosperity of Future Generations. The initiative will provide financing for projects that expand opportunities for young people across the Asia-Pacific to fully participate in the region's economic future.
Through this new mechanism, APEC member economies will be able to implement projects aimed to support people aged 18-34 across five key areas: knowledge exchanges among professionals; capacity building in emerging digital technologies; policy research on issues highly relevant to youth, including environment and demographic challenges; support for youth-driven startups and businesses; and promoting youth employment. The goal of the Sub-fund is to empower young professionals, strengthen youth capacity, and expand exchanges as a basis for inclusive, resilient, and sustainable growth in the region.
"This contribution reflects Korea's commitment to fostering young people as key drivers of innovation and prosperity," said Lee Jiyoon, Korea's Senior Official for APEC. "By equipping future generations with the tools to adapt to technological change and demographic shifts, APEC economies can lay the foundation for long-term growth."
APEC-funded projects play a vital role in translating the policy directions set by APEC Economic Leaders and Ministers into practical actions. Each year, APEC provides funding for over 100 projects that aim to boost trade, drive innovation, and promote sustainable development. Korea's new contribution will add to these efforts by helping young people across the region access opportunities to learn, work, and thrive in their communities.
"This initiative provides member economies with a practical mechanism to collaborate on youth-focused projects that will deliver lasting benefits to the region," said Eduardo Pedrosa, Executive Director of the APEC Secretariat. "By investing in the next generation, APEC is working toward its long-term vision of a more open, dynamic and inclusive Asia-Pacific where everyone can share in the benefits of growth."
