We are living in an era where continuous acquirement of knowledge is very important to cope with this rapidly changing world. Today, importance of knowledge pursuit is evermore accentuated and is perceived as an essential factor for further development and prosperity. Acknowledging the emerging trend of knowledge-based society, the APEC Education Foundation (AEF) is actively carrying out its mission to support APEC in its endeavors toward shared prosperity and fostering an Asia-Pacific community through advancing education and human resources development cooperation. Since its inception in 1995, the AEF has made continued efforts to fulfill its special responsibility to APEC members. The AEF has made significant progress in recent years in terms of grant-making activities towards human resource development project and strengthening educational opportunities. The support of APEC member economies, particularly the Republic of Korea, has been invaluable in making this possible. On behalf of the Foundation, I wish to express my sincere appreciation for their support. The AEF firmly believes that it can be a valuable vehicle for advancing education and human resources development within APEC. I look forward to the active support, participation and advice of APEC member economies in the work of the Foundation. Choong Yong Ahn Chair Seoul, November 2006