Others Publication of the Trilateral Economic Report (TER) 2025
2025-05-30
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The TCS released the Trilateral Economic Report (TER) in May 2025. The TER is a flagship publication of the TCS to outline the economic landscape and policy implications of China, Japan, and the ROK.
“This year’s TER marks a significant milestone in its development as the 10th edition”, noted TCS Secretary-General LEE Hee-sup. He emphasized that the 13th Trilateral Economic and Trade Ministers’ Meeting, held for the first time since 2019, formally recognized the TER as a valuable asset for policy development and economic cooperation. He stated that this edition reflects our collective effort to accelerate the revitalization of trilateral economic cooperation, building on momentum generated from the 9th Trilateral Summit in May 2024. TCS, as a key institutional partner in this initiative, remains committed to ensuring continued knowledge-sharing and policy dialogue among the three governments by engaging leading regional experts.
This year’s report introduces a new chapter on global and regional economic development, produced in close collaboration with the ASEAN+3 Macroeconomic Research Office (AMRO). The then-AMRO Director, LI Kouqing, noted that current global environment — characterized by rising geopolitical tensions and escalating trade protectionism — has brought heightened uncertainty to the world economy. Building strong and enduring partnerships among regional institutions is of particular importance in this context. He affirmed that the 2025 TER is a clear testament to deepening collaboration between TCS and AMRO and the shared commitment of the two institutions to fostering sustainable growth and stability in the region.
The report outlines the economic profiles of China, Japan and the ROK, as well as development and outlook of the regional economy over the past year, assessing key risks, strengths, and policy priorities within global, regional, and trilateral contexts. Additionally, the report also provides an in-depth and thematic analysis of Free Trade Agreements (FTAs), the Regional Comprehensive Economic Partnership (RCEP), and supply chain connectivity in advanced industries (semiconductors), which were conducted by three experts individually recommended by the respective economic ministries of the three countries.
As one of TCS’s long-lasting research initiatives and now an official follow-up initiative under the ministerial process, the TER will continue to serve as a shared source of information and knowledge for the three governments and all relevant stakeholders, facilitating mutual understanding and informed policy development on regional cooperation.
Documents
- Joint Media Statement of the 13th Trilateral Economic and Trade Ministers’ Meeting
- 2019 Trilateral Statistics
- Joint Media Statement of the 12th Trilateral Economic and Trade Ministers Meeting
- Joint Statement of The 11th Trilateral Economic and Trade Ministers's Meeting
- Joint Statement on Economy and Trade Cooperation
- Joint Press Release of the 9th Trilateral Economic and Trade Ministers Meeting
- Joint Statement of the 8th Trilateral Economic and Trade Ministers Meeting
- Joint Press Release of The 7th Economic and Trade Ministers' Meeting
