Incheon Metropolitan City and Shinhan Bank announced that they have signed a memorandum of understanding (MOU) at the Incheon City Hall meeting room on March 11 to secure the hosting of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea in 2025.
At the signing ceremony, Mayor of Incheon Yoo Jeong-bok and President of Shinhan Bank Jung Sang-hyuk personally attended the ceremony and signed the MOU. Through this agreement, the two institutions have committed to mutual cooperation in attracting activities such as information exchange, networking, and public outreach for the hosting of the APEC summit in Incheon.
The latest agreement was driven by the increasing competition among candidate cities to host the APEC summit and the impending evaluation of candidate cities by the Ministry of Foreign Affairs, the organizing authority. It aims to bolster Incheon’s capabilities and network for attracting the APEC summit and to promote a favorable atmosphere within civic society for hosting the APEC in Incheon.
As part of the agreement, both the city and Shinhan Bank are committed to actively engaging in attraction activities, including sharing relevant information and conducting independent promotional campaigns, leading up to the announcement of the host city for the APEC summit.
Mayor Yoo Jeong-bok remarked, “The collaboration with Shinhan Bank for securing the hosting of the 2025 APEC summit in Incheon is like having a strong ally. We will gather all our efforts and sprint to the finish line until the final selection of the hosting city for the APEC summit is made, ensuring that the summit is successfully brought to Incheon.”
Based on its experience in hosting prestigious international events and attracting investments, Incheon Metropolitan City is determined to secure the hosting of the world’s largest economic cooperation forum, the APEC summit, in Incheon. In doing so, it will work closely with local community members, including businesses, universities, and international organizations.