Showing posts with label G-20 Summit. Show all posts
Showing posts with label G-20 Summit. Show all posts
Monday, October 25, 2010
Sunday, October 10, 2010
'G20 Summit to spotlight Seoul’s vibrant culture'
 Samuel Koo, president and CEO of Seoul Tourism Organization, speaks to The Korea Times on Aug. 17. / Korea Times photo by Shim Hyun-chul |
Among globetrotters that make their way to Asia, anime buffs make pilgrimages to Tokyo while ``wuxia’’ fans seek a taste of authenticity in Beijing _ and those addicted to the ‘round-the-clock ``bulgogi’’ eateries in Koreatown can easily find a haven in Seoul.
In addition to its eclectic array of culinary delights, the South Korean capital finds a prime time in November to expose all its hidden jewels. Leaders of the world’s top 20 economies are due to gather to discuss the global financial market during the G20 Summit on Nov. 21 and 22, and up to 20,000 related personnel and media people are expected to visit.
“We want to put the word out there how ready and forthcoming we will be and that (these visitors) are most welcome to stick around and explore the depth and breadth of what Seoul has to offer,” Samuel Koo, president & CEO of Seoul Tourism Organization, told The Korea Times in a recent interview in his Myeong-dong office.
``Just take cuisine for example. Reporters will have to dine their way through Seoul, and they can easily discover the different options out there _ from the rustic, home-style Korean dishes and organic temple food to the diverse array of Western and other international cuisine available,’’ he said.
``We’re probably the first country taking the G20 Summit in such a serious manner,’’ Koo continued. Korea may be the first non-G7 member country as well as the first non-Anglophone region to chair the event. But save for Singapore, no other Asian city organizes more international conventions than Seoul, said the media expert.
Yet the G20 summit itself will be an intense two-day business meeting _ unlike other international events held in Korea such as the 2005 APEC Summit where global leaders were seen sporting “hanbok” (Korea traditional costume) and sipping “makgeolli” (Korean rice wine), participants will have little time to savor the local culture. The colorful and dynamic sceneries of Seoul will nevertheless be in the global media spotlight.
“It’s not necessarily the heads of state and entourage but rather the thousands of reporters and media people we want to appeal to,” said the former journalist who headed Arirang TV before assuming his current position.
“Seoul’s biggest selling point is that it is a complete city,” he said, where people can tune into the harmonious dichotomy of traditional heritage sites and state-of-the-art modern fare.
“People choose Seoul not because we offer the cheapest hotels _ because in fact we don’t _ but due to a combination of things. People consider questions such as: Is it exciting culturally? Is there great shopping? Is it eco-friendly? Is the transportation efficient?” he said with a ring of confidence in his voice.
“Seoul has become a global metropolitan city, and it’s not a monocultural one. Even in the geographical sense it has majestic mountains, streams, rivers. It’s a hotspot for fashion, IT, antiquity, medical tourism and the arts and culture. There are palaces, galleries and museums everywhere, top-tier concerts and operas all year round and beautiful festivals like the lantern lighting festival _ and a safe, convenient public transportation system is available to take people to all these events. And everywhere you go you can feel that there’s a design element,” he said, citing how the Incheon International Airport was chosen as the Best Airport in the World for the fifth year according to IATA and ACI.
``G20 will be a chance for Seoul to expose herself to the world,’’ he said.
Official Symbol of G20 Summit Unveiled
Official Symbol of G20 Summit Unveiled
The official symbol of the G20 Summit in Seoul in November is a red and blue Cheongsachorong or traditional Korean lantern embellished with a rising sun. The lantern is usually used in traditional wedding ceremonies.
The symbol is based on a design that won a public contest by the G20 organizing committee.
Sakong Il, the chairman of the Presidential Committee for the G20 Seoul Summit, unveiled the symbol to the press at a ceremony on Thursday. The official website of the G20 Summit (www.seoulsummit.kr) was also launched. "The lantern represents the welcoming traditions of Korea and guidance that the summit aims to provide to the world economy," the committee said.
The symbol is based on a design that won a public contest by the G20 organizing committee.
Sakong Il, the chairman of the Presidential Committee for the G20 Seoul Summit, unveiled the symbol to the press at a ceremony on Thursday. The official website of the G20 Summit (www.seoulsummit.kr) was also launched. "The lantern represents the welcoming traditions of Korea and guidance that the summit aims to provide to the world economy," the committee said.
The History of the G20
Since the first G20 Leaders Summit two years ago in Washington
D.C., the Group of 20 nations has worked together to move the world
beyond the financial crisis to balanced and sustainable growth.
By pursuing globally coordinated policies, the G20 helped prevent
the further collapse of the international financial system in
the wake of the United States’ subprime mortgage meltdown and
the subsequent Lehman Brothers bankruptcy, even as it laid
the groundwork for reforms that would reduce global volatility
going forward.
The success of that first meeting, held on November 15, 2008, paved the way for future summits. Among the agreements reach- ed in Washington D.C., the G20 leaders committed to strengthening policy cooperation, reforming the regulatory and supervisory framework of the world’s financial markets, improving the existing international financial institutions and avoiding protectionism.
During the next two summits, in London and Pittsburgh, the G20 continued to tackle the financial crisis, agreeing to a $5 trillion stimulus package and following through on previously made commitments. At the end of the London Summit, the final commu- niqué focused on three major subject areas: the strengthening of the financial system, funding through international financial institutions, and implementation of action plans. In the course of those meetings, the G20 firmly established itself at the center of global economic discussion.
At the third summit, held in Pittsburgh on September 24-25, 2009, the G20 was designated the premier forum for international economic cooperation, ushering in a new era of global governance. The group agreed to meet annually beginning in 2011 (the G20 is meeting twice in 2010, as leaders work to stabilize economic growth). On the agenda in Pittsburgh: reform of international financial institutions; global economy and trade growth; climate financing and energy security and financial regulatory reform. At the end of these discussions, the G20 came out with the “Framework for Strong, Sustainable and Balanced Growth,” now a lynchpin of G20 discussions.
Although the G20 leaders began meeting as a group only in the last few years, the G20 finance ministers have been meeting an- nually since 1999. That first meeting was held in the wake of the Asian Financial Crisis, when world leaders recognized the increasing interdependence of the world’s economies. Those meetings in turn had grown out of meetings coordinated by the G7 (the US, Japan, United Kingdom, France, Germany, Canada and Italy) in the years following the 1974 oil shock. The emergence of the G20 stemmed from the changing economic reality. By the end of the 1990s, emerging markets played an increasingly important part in the global financial system, and that needed to be reflected in international economic governance. Today, the G20 represents two thirds of the world’s population and nearly 88% of the world’s economy.
The G20 promotes open and constructive discussion among systemically important countries on key issues related to financial and economic policies. By enhancing cooperation and coordination, the G20 works to bring about stable and sustainable econo- mic growth across the globe.
The G20 does not have a permanent staff. The chair country supplies the secretariat for the duration of its one year term.
The position of chair country rotates between regional groups of countries each year, then the specific country to be assigned the role of chair is chosen from within that group during a series of meetings.
- Group 1 (01.06) Canada [01) Australia (06) Saudi Arabia America
The G20 Management Troika includes the most recent, the current and the next chair. During the years preceding and following its host year, a country holds the position of co-chair and acts as an advisor to the Troika. Troika members work closely with the chair to set the G20 agenda, frame the discussion and produce a communiqué. In addition, the co-chairs participate in meetings of G20 steering groups.
- 1999 Ger
Wednesday, August 18, 2010
Gwangju prepares to host G20 Deputies’ Meeting
Gwangju City is in the final stages of preparation for successfully hosting a meeting of Deputy Finance Ministers from the G20 states.
The meeting will be held from the 4th to the 5th of September, at the Mudeung Park Hotel in Gwangju, and will be attended by 150 people, including deputy finance ministers from G20 member states, the vice-president of the central bank, as well as officials from the International Monetary Fund (IMF), Organization for Economic Cooperation and Development (OECD), and the World Bank (WB).
South Korea is current chair, and the G20 Advisory Committee has been taking steps to ensure readiness for the event. As part of this, since March this year, Gwangju Preparatory team has established and undertaken a plan to ready the city in terms of environment and public order, so that participants at the conference will see the beautiful and clean face of the city.
Final checks are now underway of the city’s conference venues, electrics, gas, fire safety, construction, as well as the cleanliness, care and disinfection of kitchens and food preparation facilities.
From now until the conference date, the remaining time will be spent ensuring total readiness, including intensive urban environment maintenance, as well as the addition of flags and flowers along roads and streets.
In particular, the Gwangju Conference will offer the chance for private discussions and pre-negotiations on relevant matters, and to formulate and agenda, which will provide the foundation for discussions at the main November 11th G20 Summit, to be held in Seoul.
The G20 is comprised of USA, Britain, France and other G7 countries, as well as China, Russia, Brazil and other leading emerging economic nations. Together the G20’s Gross Domestic Product (GPD) totals 85% of the world’s, and their populations account for two-thirds of the global population. The G20 Summit is attending by heads of state of the world’s leading economies, and is an key forum for making plans for the global economic future.
Key phrases for the G20 Summit revealed
The key phrases for the G20 Financial Summit meeting have been disclosed. The Presidential Committee for the G20 Seoul Summit explained that the new phrase “Shared Growth Beyond Crisis” reflects the main theme of the G20 Summit, which aims to establish a framework for strong, sustainable balanced growth worldwide.
The agenda for the G20 Summit was classified into eight categories: ▲ global economy ▲cooperative framework for balanced growth ▲reform of the international financial regulatory system ▲modernization of international financial institutions and the global financial safety net ▲development ▲trade and investment ▲energy and anti-corruption ▲ business summit.
The government has already held a high level working group meeting in Seoul on July 19 and 20, followed by the Sherpa meeting from July 20 to22. The high-level meeting, attended by some 100 representatives from member nations and global institutions, discussed specifying the existing agendas and decided on the future directions for talks.
The Sherpa meeting, which is a closed-door event, was attended by another 100 deputy representatives and aides from member nations and relevant institutions to review the general direction for the G20 agenda. The name of the meeting is derived from the Sherpas of the Himalayas, guides and porters for those who seek to scale the mountains.
The Presidential Committee will continue to hold preparatory meetings related to finance, budget, energy, and development, and seek the advice of other countries to coordinate before the official meeting.
By Kim Hee-sung
Korea.net Staff Writer
Join the ‘Rural-20 Supporters’ & travel Korea’s beautiful countryside!
The Rural-20 Project was launched by the Ministry of Food, Agriculture, Forestry and Fisheries (MIFAFF) to introduce people to the scenic beauty and unique culture of Korea’s countryside. In anticipation of the G-20 Summit in November, IFAFF will be operating the ‘Rural-20 Supporters’ Project from August to November to give visitors and international residents a chance to explore the countryside.
Twenty rural sites across the nation have been carefully selected as prime destinations and categorized into four themes (Experience, Nature, Orient, and Well-being), letting visitors easily pick locations suited to their individual interests. Tours are further divided into one-day or two-day programs, with an easy-to-use map showing site locations and types.
Though anyone can register on the site as a supporter, tours only have room for a total of roughly 2 thousand participants. More information on registration and reservations, and Rural-20 Travel guides, are available on the Rural-20 official website (www.rural20.kr). The website is available in Korean, English, Japanese, and Chinese.
In preparation for the project, local residents of each Rural-20 area were taught basic English, Japanese, and Chinese conversational skills and given information on important cultural differences. As a further service to internationals, the Ministry has produced Rural-20 promotional brochures and videos in three different languages: English, Japanese, and Chinese. These promotional brochures are available at embassies, Korean language institutions, tourist information centers, and overseas branch offices of the Korea Tourism Organization.
* 4 categories of Rural-20 areas by theme.
○ Experience Travel: features a variety of experience programs (harvesting crops, fishing, etc.)
○ Nature Travel: focuses on the beauty of the country villages and the wide open fields
○ Orient Travel: includes villages with deep histories and rich cultural heritages
○ Well-being Travel: by doing leisure activities and relaxing, tourists can restore their health both mentally and physically
* Rural-20 Project: The Rural-20 Project is a special program launched by MIFAFF to gear up for the G-20 Summit in Seoul. R-20 destinations include 11 villages and 9 popular tourist sites.
| More Info) ☞ Inquires about Rural-20: +82-2-2075-2013 (English) (Assistance is available in Korean, English, Japanese, and Chinese) ☞ Korea Travel Phone +82-33-1330 (Korean, English, Japanese, Chinese) |
Cooking contest for Gyeonggi's agricultural products to be held
The Gyeonggi-do Agricultural & Extension Research Service will hold a national cooking contest for Gyeonggi's farm produce to publicize the superior quality of Gyeonggi's agricultural products.
The cooking contest, to be held on September 9 at the Gyeonggi-do Agricultural & Extension Research Service, invites not only locals but also foreigners to submit two or more top-quality dishes and at least one kind of food for commercialization. Fifty finalists who pass the documentation screening will compete with each other in the contest.
A total of fifteen prizes including one grand prize, two gold prizes, four silver prizes, six bronze prizes, and two audience-appreciation prizes will be awarded to the winners. The prize winners will also receive a Gyeonggi Provincial Governor's Award Certificate. The award-winning dishes will be designated as special dishes of Gyeonggi Province.
The application deadline is August 13. One can apply by visiting the Living Management Division of the Gyeonggi-do Agricultural & Extension Research Service (Gisan-dong 315, Hwaseong City, Gyeonggi Province, ??031-229-5882 - Director Jo Geum-sun) or by emailing an application to ks5892@gg.go.kr
The application documents can be downloaded from the Gyeonggi-do Agricultural & Extension Research Service homepage at www.nongup.gyeonggi.kr. The list of the fifty finalists will be released on the homepage.
For further information, please contact the Gyeonggi-do Agricultural & Extension Research Service at 031-229-5842.
Yeo Woo Rak stands for “여기 우리 음악이 있다,” meaning “Here is Our [Korean] Music!’ The festival features music played on traditional Korean musical instruments and will be held from Sep. 2nd (Thu) to 11th (Sat) 2010 at the KB Haneul Youth Theater, one of the branches of the National Theater.
Festivities kick off with ‘Gongmyoung’ a renowned Korean band, who will present a lively recreation of traditional Korean music using a variety of bamboo, wind, and percussion instruments such as the Janggu (traditional drum). ‘NoreumMachi’ will also take the stage, performing ‘Samulnori’ with Jing, Janggu and Kawaenggwari, introducing the audience to a new type of Korean traditional music.
Other presenters include the Janggu ensemble ‘Sonagi Project’ and the group ‘Dulsori,’ who will present ‘World Beat Binari,’ a performance that is continually gaining acclaim for its catchy beats and tunes.
+ TicketsUttumseok seat: 30,000 won, Beogeumseok seat: 20,000 won
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Tuesday, August 10, 2010
Business Summit :100 CEOs to gather in Seoul at G20 summit
One hundred business movers and shakers from around the world will come together in Seoul later this year when heads of the 20 major economies meet for a global economic summit, organizers of the business meeting here reportedly said Thursday.
The committee planning the meeting said that CEOs from 100 global companies are expected to attend the two-day Seoul G20 Business Summit starting Nov. 10, just a day before the G20 summit is convened, according to local news reports.
There will be 80 business leaders from G20 member countries and the rest 20 will be from non-member nations, and they will discuss trade and investment, finance, green growth and social responsibilities of corporations, according to reports.
Attendees reportedly include Josef Ackermann, CEO of Deutsche Bank; Stephen Green, group chairman of British bank HSBC Holdings Plc.; and SK Group Chairman Choi Tae-won of South Korea.
'Korea ready to bridge gaps among G20 nations'
 Sakong Il, chairman of the Presidential Committee for the G20 Summit, points to Korea on a world map fixed in his office in Seoul. |
Upon arriving at the office of Sakong Il in Samcheong-dong near Cheong Wa Dae for an interview, it didn’t take long to realize that the G20 Seoul Summit is just around the corner. His reception room was full of government officials and related guests lining up to see the chairman of the Presidential Committee for the G20 Summit. Everyone there looked tense as if the international gathering was just one week away.
Before the interview began, his spokesperson asked us to keep the interview quick, claiming his tight schedule. But Sakong gave lengthy responses to every issue, mindless of his next appointment. The following is the complete transcript of the interview. ― ED.
By Kim Jae-kyoung, Lee Tae-hoon
Q: Tell us about the progress in preparation for the forthcoming G20 Summit and challenges it faces.
The Presidential Committee for the G20 Summit has been working closely with relevant government ministries, as well as private institutions and experts at home and abroad to develop the agenda for the G20 Seoul Summit and make Seoul a successful host of the event.
The Committee has also formed a close network with major international organizations, such as the IMF, World Bank, OECD and WTO.
Over the next 100 days, it will carry out the tall task of helping Korea take the initiative and exercise its leadership in bridging differences among G20 members over major agenda that has been shelved to the Seoul Summit from the previous Toronto Summit.
Q: Korea is also preparing for the G20 Business Summit, which will bring together chairmen and CEOs around the world to Seoul. What is the purpose of hosting the event and what can the country gain from it?
Some 100 leading business figures around the world will be invited to attend the G20 Business Summit, which will also be held in Seoul just one day prior to the G20 Summit.
They will exchange views on what the private sector can contribute to bolstering global economic recovery, and achieving sustainable and balanced economic growth after the global financial crisis.
Governments and state-bodies, such as central banks, have thus far taken the lead in economic recovery, but the participation of the business community and their initiative will be vital in ensuring a more sustainable economic recovery and future growth.
Unfortunately, there hasn’t been much room for the private sector to have a say in the G20 Summit.
That’s why, as the chair of the G20 Summit, Korea is organizing the Business Summit with the aim of laying the foundation for such a gathering of world business leaders to be recognized as an important part of the Summit.
Many CEOs and heads of top global companies have already expressed their strong interest and willingness to participate in the Business Summit.
Q. What are the main issues to be discussed at the G20 Seoul Summit? And on what backdrop the “global financial safety nets” and “development issues” that Korea had proposed were adopted as agenda items?
Korea has been pushing “global financial safety nets” and “development issues” to be included in the top priority of the agenda for the Seoul Summit, providing that the country has a lot to offer to emerging and developing countries based on its memories and experience in achieving successful economic development and overcoming a financial crisis.
As for development issues, one of the most urgent tasks has been the creation of an effective program that can substantially benefit the economy of low income countries.
G20 leaders agreed to establish a working group tasked with development issues in line with the G20 Summit’s objective of enhancing international cooperation to generate strong, sustainable and balanced growth, upon Korea’s proposal in the Toronto Summit.
Working-level officials have been holding talks to explore measures that can promote economic growth in the less developed countries and facilitate the formulation of multi-year action plans that will be reported to the G20 leaders at the Seoul Summit for their consideration and endorsement.
There has also been a growing call for bolstering global financial safety nets, following the Asia Financial Crisis in the late 1990s, the ongoing global financial crisis and Southern Europe's fiscal crisis.
As a result, the leaders of the G20 acknowledged in the previous summit a need for international efforts to deal with capital flow volatility, financial fragility, and prevent crisis contagion.
Q: How the world economic order will be shaped under the G20 umbrella in the post global financial crisis era?
It is needless to say that a more concrete and tangible outcome should be achieved at the G20 Seoul Summit as the leaders of the G20 nations agreed to come up with major reform measures by then, including the establishment of the G20 framework, adjustment in the quota of the IMF, and improving global financial safety nets.
Once the agreements of the past four G20 meetings are faithfully executed and a tangible outcome is produced on issues concerning emerging and developing countries that Korea has proposed, the G20 Summit will be able to further cement its position as a premier forum for international economic cooperation.
Q. What is your outlook for the global economy?
The possibility of a double dip recession cannot be ruled out in some southern European countries which are presently undergoing a fiscal crisis.
Nevertheless, I believe it is less likely that the world economy will suffer a double dip.
The G20 leaders reached a consensus on the need to gradually improving fiscal soundness to prevent the world economy from being trapped in a double dip as they extensively discussed the matter during the last Toronto Summit.
It will be foremost important for the countries undergoing a fiscal crisis to come up with a long-term plan to overcome their predicament, which will help the world economy to regain trust in the market in the future.
The G20 Summit will also need to play a pivotal role in assessing and monitoring the implementation of their plans through a peer review or mutual assessment process, as a means of securing a more practical and satisfactory outcome.
Q: What is your outlook for the Korea economy?
Recently, international organizations, such as the IMF and OECD, have raised the growth forecast for Korea on the assumption that its economy will considerably rebound in the latter half of the year.
They forecast such a rosy outlook for Korea because domestic sales will likely increase thanks to a rise in its exports, better corporate earnings and a positive picture of the country’s employment market in the second half.
Q. Korea’s image significantly improved with the help of the hosting of major sports events, such as the 1988 Olympic Games and 2002 World Cup. Do you expect the hosting of the G20 Summit will have a similar effect?
I believe the hosting of the upcoming G20 Summit will be a great opportunity for the country to boost its international reputation and strengthen its “national brand.”
The hosting of the G20 Summit will help the country take a great leap forward in improving its status in the international diplomatic circle.
As the chair of the premier forum for international economic cooperation, Korea will be able to make itself known all over the world for taking a leading role in reshaping the world economic order along with other G20 nations, which have played an exemplary role in the international community.
Certainly, attention will be drawn to Korea in November, when the leaders of the G20 nations and numerous big-name figures arrive for the Summit.
I’m also optimistic that the successful hosting of the event will provide fresh momentum for upgrading the undervalued image of Korea and its products, naturally resulting in an enormous economic benefit.
Given that Korea is forecast to export $440 billion worth of goods abroad this year, if the country can reduce 1 percent of “Korea Discount,” which still runs deep among many of its export items, it can lead to an economic benefit of $4.4 billion.
Similarly, 10 percent of reduction in such a discount effect is equivalent to producing $44 billion worth of added value.
Q: Could you comment on some criticism that Korea may have overstepped its role in preparing the G-20 Summit?
Those critical of Korea’s active involvement in setting up the Summit agenda overlook the fact that the chair of the country has a much greater responsibility than just providing a venue or reading a pre-arranged statement.
The primary role of the chair nation is gathering views and hearing opinions of not only from the G20 member nations, but also 172 non-G20 U.N. members, in order to come up with a solution for sustainable and balanced growth for the world economy.
In other words, Korea has been actively fulfilling its duties, rather than trying to steal the limelight.
Q: Lastly, what is your secret of having such great connections with many business leaders abroad?
Maintaining a network with leading figures of the world can be painstaking and requires a great deal of time and effort.
You need to constantly study to update yourself and be knowledgeable of what their interests are in order to have a stimulating conversation and exchange insightful views.
A mutual trust should be built first before seeking friendship, though this is one of the necessary preconditions, not the sufficient one.
It is important to note that you must relentlessly apply yourself in order to be able to engage in conversation with them on a wide range of topics.
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