Author: MIL-OSI Publisher

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

Source: Hong Kong Information Services

The Housing Authority (HA) announced today the clearance and rehousing arrangements for the redevelopment of Sai Wan Estate (SWE) and Phase 1 of Ma Tau Wai Estate (MTWE), under which affected tenants have more than 40 months to move out of their units.

The clearance and rehousing of SWE will be carried out in one go, with a target clearance date of September 2029.

Phase 1 of the Ka Wai Man Road public housing development nearby will serve as the reception estate, providing sufficient public rental housing (PRH) units for SWE tenants to move into together with their neighbours.

MTWE will be redeveloped in two phases, with Phase 1 clearance covering Geranium House and Narcissus House. The target clearance date is July 2029.

The To Kwa Wan Road public housing development and part of the new Mei Tung Estate public housing development will serve as the reception estates for tenants affected by the Phase 1 clearance.

The HA noted that it will reduce the number of redevelopment phases from three to two, therefore significantly shortening the rehousing period for all MTWE residents from 14 years to seven years.

There are diverse rehousing options. Affected tenants may choose to move either to reception estates or to suitable and refurbished PRH units in other districts, and will be accorded priority to purchase subsidised sale flats launched for sale before the target clearance date.

Affected households will be offered a Domestic Removal Allowance ranging from $10,350 to $33,050, depending on the household size, to help cover part of their moving expenses.

Eligible one-person and two-person households may also opt for cash in lieu of rehousing to a PRH unit under the Alternative Rehousing Allowance, with the rates at $82,700 and $100,220 respectively.

Meanwhile, tenants who have special circumstances may apply for transfer to a unit in Phase 2 of MTWE. The applications will be considered with discretion.

To preserve featured shops with cultural affinities in the estate, the HA will identify shops with unique characteristics and values of retention through community engagement exercises, and engage the shop tenants in bidding for new commercial premises reserved in the reception estates or the redeveloped estates by way of restricted tenders.

Moreover, all eligible commercial tenants affected by the MTWE Phase 1 redevelopment will be offered ex-gratia allowances equivalent to 15 times the monthly exclusive rent as specified in the tenancy agreement applicable on the day of the formal announcement of the clearance, and will be allowed to participate in the restricted tender exercises to lease selected vacant shops in the HA’s existing retail facilities.

If the retail tenants choose not to participate or are unsuccessful in the restricted tender exercises, they will be granted a lump sum payment of $113,500 in lieu.

Source: Hong Kong Information Services

Charges at 11 government public car parks will be increased from March 1, the Transport Department announced today.

The facilities include: Kennedy Town Car Park, Rumsey Street Car Park, Star Ferry Car Park, City Hall Car Park, Tin Hau Car Park, Shau Kei Wan Car Park, Aberdeen Car Park, Sheung Fung Street Car Park, Wong Tai Sin Car Park, Kwai Fong Car Park and Tsuen Wan Car Park.

The department said it had taken into account nearby public car park charges, public acceptability and utilisation of the government car parks when adjusting the fees.

Source: Government of the Republic of Korea

Distinguished business leaders from across our economies,
thank you for joining us at the CEO Summit despite your busy schedules.

It is a great pleasure to welcome you all to Gyeongju,
the ancient capital of Silla, a city that flourished for a thousand years
through the enduring spirit of harmony and unity.

I would like to extend my sincere appreciation
to Chairman Chey Tae-won and his team
for their tireless efforts in preparing this meaningful event.

Over the past thirty-six years,
APEC’s journey has stood as a powerful testament to how
cooperation and solidarity can lead to shared prosperity.

At the heart of these remarkable achievements
are the business leaders gathered here at the CEO Summit,
Visionaries who have worked together to shape solutions to the challenges of our time.

Since its inception in 1996,
the CEO Summit has served as a vital bridge —
connecting governments and businesses, as well as markets and policies, and ensuring that dialogue leads to tangible progress.

From finance and economy to biotechnology, healthcare, Artificial Intelligence, and the digital sector, 
your passion and insights have been the seeds of innovation,
growing into towering trees of change that continue to shape our world.

The “APEC Business Travel Card”, or ABTC, introduced in 1998,
stands as one of the most representative achievements
that began from the proposals of business leaders.

By providing visa-free and fast-track entry for business travelers,
the “ABTC” has played — and will continue to play —
a vital role in facilitating people-to-people exchanges
and promoting business activities across the Asia-Pacific region.

The same holds true for
the “APEC Cross-Border Privacy Enforcement Arrangement”,
established in 2011.

Built upon the continued proposals and efforts of the business community
to protect privacy while enabling the free flow of data,
it has become an excellent example of ‘international cooperation’ —
one that has set a model for the world to follow.

The report titled “Artificial Intelligence in APEC,”
published by the Business Advisory Council in 2020
served as a valuable foundation for
preparing ahead of the transformative era of AI,
and for fostering discussions on global norms surrounding AI.

I am confident that today’s CEO Summit
will also be remembered in history as a defining moment – a gathering
where we sought solutions together for the challenge we face,
and took another step forward toward building a “better tomorrow.”

Distinguished business leaders,
Twenty years ago in Busan, Korea, the APEC Economic Leaders’ Meeting
marked a major turning point — not only in APEC’s history
but also, in the evolution of the global free trade system itself.

The “Busan Roadmap”, announced by Korea as the Chair Economy at the time,
embodied the united voice of APEC member economies
in support of a free and open trading system.

Today, in 2025, the external environment surrounding APEC
looks very different from what it was two decades ago.

At a time when protectionism and nationalism are on the rise,
and the very act of survival itself feels uncertain,
the ideals of cooperation, mutual growth, and inclusive prosperity
can seem distant and even hollow.

Paradoxically, it is precisely in moments of crisis such as these,
that the role of APEC as a platform for solidarity shines brightest. .

As the saying goes, “A friend in need is a friend indeed.”
Time and again, in moments of crisis, APEC economies have stood together hand-in-hand ,
proving that “mutual trust” is the surest path to “mutual prosperity.”

When the world faced an unprecedented crisis of a pandemic,
APEC worked together to ensure
the free flow of medical supplies and essential workers,
and pooled its wisdom to achieve an economic recovery.

Twenty years ago, Korea united the collective will of APEC.
Now, once again, as the Chair Economy,
Korea will lead the path toward renewed multilateral cooperation
to overcome this moment of crisis.

Gyeongju is the perfect place to reaffirm
the values of cooperation and solidarity that we must uphold,
for this city is deeply imbued with that very spirit.

Even amid the fierce struggle for dominance
during the Three Kingdoms period,
and under the heavy pressure of foreign powers,
the Silla Kingdom never stopped embracing openness and exchange.

With that spirit, Silla ultimately overcame division,
unified the Three Kingdoms,
and ushered in a new era of unity on the Korean Peninsula.

I am confident that the spirit of Silla —
ever renewing itself and embracing all directions —
embodies the very essence of the priorities of
this year’s APEC Economic Leaders’ Meeting: Connect, Innovate, Prosper.

“Connect” represents the power of solidarity
that bridges an era of division.

As a responsible member of the global community,
Korea will contribute to restoring the bonds of regional trust and connection.

At the heart of this effort lies supply chain cooperation.

For the first time in APEC’s history,
Korea hosted the “APEC 2025 KOREA Public-Private Dialogue”
to pave the way for the private sector
to take an active role in discussions on supply chains.

In 2023, Korea enacted the “Framework Act on Supply Chain Stabilization”
and established a responsive system
to address supply chain disruptions both at home and abroad.

At the APEC Ministers Responsible for Trade Meeting held last May,
APEC member economies successfully concluded the implementation
of the “APEC Connectivity Blueprint,”
and agreed to further strengthen
people-to-people, physical, and institutional connectivity
through enhanced digital cooperation.

At the edge of traditional wooden buildings in Gyeongju,
there is a traditional Korean giwa tile called “Sumakse.”

The “Sumakse,” protects the structure from rain and wind,
while firmly connecting the many different giwa tiles together
to form a single, unified roof.

Just as the “Sumakse”, embodying the wisdom of connection,
has withstood a thousand years to safeguard the East Asian civilization,
so too will people-to-people, physical, and institutional connectivity
serve as the roof that shelters APEC’s growth and prosperity.

Next, “Innovate” is the key driving force behind future growth.

Today, artificial intelligence stands at the heart of innovation for sustainable development.

At the APEC Ministers Responsible for Trade Meeting held last May,
Korea laid the foundation for cooperation on the use of AI
by discussing the introduction of AI technologies in customs administration
and AI technologies and standards.

Last September, Korea established the
“National Artificial Intelligence Strategy Committee,”
to prepare comprehensively for the coming AI era
and is also pushing forward with the task of building the “AI Highway.”

Korea is also set to implement the ‘Basic Act on Artificial Intelligence,’
which seeks to strike a balance between
industrial development and the “responsible use of AI.’”

In Gyeongju stands Cheomsungdae,
the oldest astronomical observatory in the East.

Just as Cheomsungdae Observatory once read the stars through data,
AI, grounded in data, will serve as an engine of intellect,
providing new insights and direction for humanity.

Korea will propose the “AI Initiative” at this year’s Leaders’ Meeting.
We hope that the vision of “AI for all” will take root as APEC’s new normal.

Finally, “Prosper” is a promise for future generations.

For decades, APEC has been at the forefront of
free trade and investment liberalization,
driving economic growth across the Asia-Pacific region.

Now, to realize our dream of sustainable development and shared prosperity,
we must strive to ensure
that opportunities and rewards of growth are shared by all.

Established under Korea’s leadership in 2005,
“APEC Small and Medium Enterprises (SMEs) Innovation Centre”
has continued to provide customized consulting services
for SMEs across the region.

Since 2012,
through the “Capacity Building Needs Initiative for Developing Economies,”
Korea has shared its accumulated knowledge and experience
in areas such as intellectual property rights,
trade dispute settlement, and rules of origin.

Through the “Jeju Initiative,”
adopted at the APEC SME Ministerial Meeting held this September,
the “APEC Startup Alliance” was launched
to support the growth of SMEs and their entry into global markets.

Korea will remain committed to fulfilling its role
and taking the lead in sharing its experiences
in economic growth and development with all.

Korea will also make efforts to nurture the young talents
who will shape the future.

In August,
Korea established the “APEC Future Prosperity Fund” with an initial contribution of one million U.S. dollars.

The Fund will focus on five priorities:
Youth knowledge exchange,
digital capacity building,
research on population and environmental challenges ,
entrepreneurship support,
and technical training.

Just as the Hwarang system of ancient Silla fostered young leaders
and paved the way for a unified kingdom,
APEC’s youth development programs will serve as the cornerstone
for a new era of sustainable growth and prosperity.

Distinguished business leaders,
Korea has long cherished the “spirit of harmony” —
where diverse elements come together to create a beautiful symphony.

Even in the latest global phenomenon “K-Pop Demon Hunters,”
K-pop idols and their fans unite in powerful solidarity, joining in a spiritual rite
“Honmoon” that banishes darkness.

Especially in times of crisis and uncertainty,
it is the power of unity and cooperation
that leads us toward a brighter future.

This timeless truth has long been proven by
Korea’s vibrant and resilient “K-Democracy,”
which triumphed over division and adversity through the power of its people.

APEC 2025 KOREA is a vibrant and splendid stage
that connects twenty-one economies across four continents.
Let us make this
a stage for all – a stage where we connect, innovate, and prosper to leap into the future.

The history of Korea — a story of challenge and resilience, rising from the ashes of war to achieve industrialization, democracy and prosperity – stands today as a source of inspiration and courage, reminding us that together, we can overcome any crisis and build a brighter future.

Thank you.