Korea’s Economic Development Model Featured on the G20 Agenda
Korea’s Economic Development Model Featured on the G20 Agenda
  • Oh Hae-young
  • 승인 2010.01.22 15:09
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Dr. Sakong Il, chairman of the Korea International Trade Association (KITA)

On the agenda of the G20 summit, slated to be held in South Korea in November of this year, will be South Korea's economic development and risk management model. Sa Gong-il, head of the planning committee for the G20, said in a press conference on January 20, "South Korea has bountiful experiences in achieving economic development and successfully riding out the 1997 Asian financial crisis under its belt. So, I look to make ‘Korea Standard’, based on our nation's success story.”

Asked about the agenda of the G20 summit, committee chairman Sa Gong-il said, "While keeping tabs on whether previous agendas translate into concrete and tangible results, we will craft a new agenda in a way that could make S. Korea's experience in risk management well known to the international community." He went on to say, "To that end, we will work hard to make sure that the G20 summit continues to establish itself as a premium forum in both pre- and post crisis periods."

The planning committee for the G20 is making preparations to come up with the host country's opinion into the agenda, which includes major items such as cementing the global economic recovery; strengthening the G20 framework for strong, sustainable and balanced growth; the governance of international financial institutions; and reform of financial regulations.

Host nation South Korea will propose agenda items such as building of a global economic system for crisis prevention and sustainable and balanced growth; sharing of S. Korea's know-how on economic development and risk management; reaching agreement in the Doha Development Agenda (DDA) negotiations within a set duration; and guarding against creeping protectionism.


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