G20 Seoul Summit Special 4

The Schedule of the G20 Seoul Summit 

How Do G20 Summits Proceed?
 Unlike other international summits such as APEC and ASEM which include social mingling among participants and other ceremonial functions, G20 summits are thoroughly business-oriented. For example, the following was President Lee Myung-bak’s schedule for the London Summit held on April 2 and 3 of 2008. 

Day 1 (April 2) 

09:30 (Korea time): Departing from Korea 
14:30 (London time, onwards): Arriving in London 
15:30~16:00: Check-in 
17:30~ 
   - Summit with the then UK Prime Minister Gordon Brown 
   - Reception hosted by the Queen at Buckingham Palace 
     (*Invitees composed only of heads of state and ministerial-level entourage) 
   - Working Dinner 
23:00: Retiring 

Day 2 (April 3) 

07:30~15:00 
   - Working Breakfast 
   - Morning Summit 
   - Working Luncheon 
   - Finalizing communiqué (official report) 
16:00~ 
   - Dialogue/dinner with Korean expatriates in the UK 

Day 3 (April 4) 

   - Breakfast with UK-based Korean business men 
   - Summit with President Hu Jintao of China and Prime Minister Aso of Japan 
   - Luncheon with UK finance leaders 
   - Heading for the airport to return to Korea 

Official Events and Schedule of the Seoul Summit 

The rough schedule of the G20 Seoul Summit slated for November 11 and 12 is as follows : 

Nov 11 (Thur) 

   - Welcome Reception 
   - Working Dinner of the Heads of State 

Nov 12 (Fri) 

   - Morning Summit 
   - Working Luncheon of the Heads of State 
   - Evening Summit 
   - Press Conference 

To view official events of the Seoul Summit : 
http://www.seoulsummit.kr/eng/goPage.g20?menu_seq=G20MENU00060&return_url=TOP01_SUB04  


G20 Gyeongju Meeting Held on Oct. 21-23

 
The G20 Meeting of Finance Ministers and Central Bank Governors was held on October 21-23 in Gyeongju, South Korea. The gathering was designed to review and coordinate key agendas for the upcoming G20 Seoul Summit. At the summit, currency issues sparked strong interest. Korea, as chair, played an active role in mediating conflicts among member nations. Meeting attendees agreed to implement market-determined exchange rate policies and refrain from competitive devaluation of currencies to tackle trade imbalances. 

To read related articles : 
http://www.reuters.com/article/idUSTOE69M02T20101027  
http://g20.korea.net/html/news/newsview.asp?view_idx=50821&view_ck=main  

To read the official Gyeongju Communiqué : 
http://www.g20.org/Documents/201010_communique_gyeongju.pdf  

G20 Cultural Events and Global Gatherings 


During the two-day summit period, a variety of cultural events will be held for diplomatic delegations and representatives from international organizations as well as for global tourists, including: Jongmyojereak (a royal ancestral rite, a UNESCO-listed intangible cultural heritage) performed by the National Center for the Korean Traditional Performing Arts ; the special exhibition “Masterpieces of Goryeo Buddhist Painting” at the National Museum of Korea ; lectures on world literature, art exhibitions and film screenings organized by the National Library of Korea. 

To learn more about it : 
http://www.korea.net/news.do?mode=detail&guid=50668  

Check this out !
 "Shared Growth Beyond Crisis" 


To view an introductory video clip on the G20 Seoul Summit : 
http://www.koreabrand.net/kr/pcnb/pcnb_news_view.do?SEQ=303 

G20 Seoul Summit Special
To be continued in the next issue...

G20 Seoul Summit Special 3

The Agenda of the G20 Seoul Summit 
Follow-up Agenda 


The G20 Seoul Summit, above all, will focus on following up on previous G20 commitments which include : 
* Safeguarding the ongoing recovery and restoring fiscal sustainability 
* Ensuring strong, sustainable, and balanced global growth 
* Building a stronger international financial regulatory system 
* Modernizing international financial institutions 

To read more in-depth, click the following link : 
http://www.seoulsummit.kr/eng/goPage.g20?return_url=TOP01_SUB03_01  

New Agenda 

In addition to delivering on previous G20 commitments, Korea as the G20 president for 2010, will also bring new perspectives and new issues to the G20, with a view to addressing the needs of the emerging and developing world as part of the effort to support sustainable growth globally. 

* Global Financial Safety Net System
Korea is advocating strengthening global financial safety nets to assist countries to deal with capital volatility. Without reliable financial safety nets, many emerging and developing countries have had to rely on self-insurance, giving them greater impetus to accumulate large foreign reserves. 

* Development Issues
Korea is also interested in fostering renewed discussions on development issues. The G20 leaders collectively recognized that narrowing the development gap and reducing poverty are integral to the broader objectives to achieve strong, sustainable and balanced growth, as well as to ensure a more robust and resilient global economy. Korea will act as a bridge between the advanced, emerging and developing worlds by fully engaging all relevant stakeholders, with a focus on the development needs of low income countries. 

To read more in-depth, click the following link : 
http://www.seoulsummit.kr/eng/goPage.g20?return_url=TOP01_SUB03_02  

Did you know? 1

The seating plan is not revealed until the last minute 


The Presidential Committee for the G20 Summit will not unveil the seating plan until right before the event, because countries lobby for the order of protocol and seating. The general protocol follows the order of heads of state, heads of government, and representatives from international organizations. Within each group, the order of inauguration and year of an organization’s foundation will be considered. 

For the full article, click the following link : 
http://english.donga.com/srv/service.php3?biid=2010101296388  

Did you know? 2

Korean cars to carry international leaders for the summit 


When they visit Seoul for next month’s G20 Seoul Summit, the international leaders will ride in Equus limousines manufactured by Hyundai-Kia Motors. The car is equipped with a bullet-proof security system and an automatic break alert system, with emergency lights that turn on automatically if the breaks are activated abruptly. The summit will require a total of 240 official vehicles to transport G20 leaders. 

For the full article, click the following link : 
http://www.korea.net/detail.do?guid=50697  

Check this out ! 


Connect to the G20 Seoul Summit with your Mobile Phones : 
http://m.seoulsummit.kr/  

G20 Seoul Summit Special
To be continued in the next issue... 

G20 Seoul Summit Special 2

What does the hosting of the G20 Seoul Summit mean to Korea? 


For a very long time, Korea has never been given a chance to establish international structures or frameworks. It had a challenging time just acquiring a membership to international organizations such as to the UN and the OECD. But with the hosting of the G20 Seoul Summit coming November, Korea has now opened a new diplomatic horizon for itself. Korea can now add its own voice to the global economic order as a rule-setter, not as a mere rule-follower; has moved from the periphery to the center of the global stage. 

To read more in depth about it, click the following link : 
http://www.korea.net/detail.do?guid=45396  

To view an introductory video clip on the G20 Seoul Summit, click the following link : 
http://www.koreabrand.net/kr/pcnb/pcnb_news_view.do?SEQ=300  

Congratulatory messages from international leaders 

"Korea’s history qualifies it for a leadership role in this changing global economy. Korea is one of the world’s great development success stories successfully advancing from a receiver of development assistance to a provider. Korea is ensuring that the voices of those outside the G20 are heard."

To view the full message of Robert B. Zoellick, World Bank Group President : 
http://www.seoulsummit.kr/e_popup/pop_seoul_01.html  

"The Korean Presidential Committee for the G20 Summit has brought together a formidable team, uniting the best talent in each policy field. Korea’s own development story and its rapid recovery from the mid-1990s Asian financial crisis are also remarkable, and serve to help and inspire us all."

To view the full message of Angel Gurria, OECD Secretary-General : 
http://www.seoulsummit.kr/e_popup/pop_seoul_02.html  

"The Government of Korea is exercising strong and effective leadership as the Chair of the G20 at this important stage. A key milestone for much of the financial reform agenda is the Seoul G20 Summit in November. Working in close co-operation, I am confident that the G20 and the FSB will be able in 2010 to put in place the basis for a much stronger and more resilient financial system for the future."

To view the full message of Mario Draghi, FSB (Financial Stability Board) Chief : 
http://www.seoulsummit.kr/e_popup/pop_seoul_03.html  

Time to show some global etiquette 

The G20 Seoul Summit is an international meeting of great prestige where the world economic leaders will convene. Accordingly, Korea will need to exhibit some especially well-cultivated etiquette and decorum for the many foreign visitors who will carry memories of Korea back to their own homes. 

Some of the things we could do can be : 

* Have a friendly, smiling face 
* Lower your voice in public places 
* Say “Excuse me” and “Sorry” 
* Have good table & driving manners 
* Keep public restrooms clean 
* Don’t litter in the streets 
* Don’t force drinking at social get-togethers 
* Reign in your “ppali ppali” (quick quick) tendencies 

Check this out ! 

View video clips on global citizenship produced by the Council in partnership with private companies : 
http://www.koreabrand.net/en/wow/wow_globalkorea.do?CATE_CD=0077  

G20 Seoul Summit Special 1

About the G20 (Group of 20) 
The G20 was formally established at the G7 Finance Ministers’ meeting on 26 September 1999. The emergence of the G20 stemmed from the changing economic reality – a response both to the financial crises of the late 1990s and to a growing recognition that key emerging countries were not adequately included in the core of global economic discussion and governance. 

So, the original G7 (composed of the US, Japan, United Kingdom, France, Germany, Canada and Italy) grew to the G20. At the third G20 summit held in Pittsburgh on September 24-25, 2009, the G20 was designated as the premier forum for international economic cooperation. Today, the G20 represents two thirds of the world’s population and nearly 88% of the world’s economy. 

For a more detailed story, click the following link : 

http://www.seoulsummit.kr/eng/goPage.g20?menu_seq=G20MENU00061&return_url=TOP02_SUB01  

Who are the G20 and their heads of state? 
The G20 includes 19 countries and the European Union. 

* G7 : US, Japan, United Kingdom, France, Germany, Canada, Italy 
* 4 Asian Countries : Republic of Korea, China, India, Indonesia 
* 3 Latin American Countries : Argentina, Brazil, Mexico 
* 4 European Countries : Russia, Turkey, Australia, the EU Chair 
* South Africa and Saudi Arabia 

To view details of the G20 countries including their leaders, click the following link : 
http://g20.korea.net/html/g20/members.asp  

Who else will participate in the Seoul Summit in addition to the G20? 
Korea will invite 5 non-member countries and 7 international organizations to the G20 Seoul Summit (scheduled for November 11-12) that have close relationships with the agendas of the summit. 

The 5 non-members are Malawi, Vietnam, Spain, Singapore and Ethiopia, and the 7 international organizations include the United Nations, International Labor Organization, World Bank, International Monetary Fund, Organization for Economic Cooperation and Development, World Trade Organization, and the Financial Stability Board. 

Non-G20 member countries have been invited to previous G20 summits in order to enhance the effectiveness and representativeness of the meeting. 

Check this out !
Flickr G20 Seoul Summit Photo Stream : 
http://www.flickr.com/photos/g20seoulsummit 

Alonso gana en Corea del Sur y es líder del Mundial de Fórmula 1

El español Fernando Alonso (Ferrari) ganó en Yeongam el Gran Premio de Fórmula 1 de Corea del Sur superando al británico Hamilton (McLaren) y a su compañero Massa (3º).

Alonso, que ahora es líder de la clasificación general, se impuso en una carrera llena de sorpresas, que empezó con retraso, tuvo que ser interrumpida por la lluvia y en la que los dos Red Bull tuvieron que abandonar por accidente.

Con esta victoria el piloto español arrebata el primer lugar del Mundial al australiano de Red Bull, Mark Webber (231 puntos contra 220), que se quedó fuera de la carrera al perder el control de su monoplaza en una curva.

Hamilton, segundo este domingo, está ahora tercero en la general, a 21 puntos del nuevo líder, y tendrá que hacer todo lo posible para ganar las dos últimas carreras, en Brasil y Abu Dhabi, si quiere aspirar al título.
Webber, que llevaba una temporada muy regular en la que sumó puntos en todas las carreras excepto en el Gran Premio de Europa, donde fue embestido por otro coche, lo tendrá ahora más difícil que nunca para ganar el Mundial.

El día negro de Red Bull se completó con el problema mecánico del alemán Sebastian Vettel, que salía de la ’pole position’, pero tuvo que abandonar por una avería de su motor en la vuelta número 45, cuando iba primero y era líder virtual del Mundial.
“Fue una de las mejores carreras del año para nosotros, para el equipo. Sabíamos que era una carrera complicada, que había que terminar”, dijo Fernando Alonso tras la victoria.

“Mark (Webber) y Sebastian (Vettel) tuvieron mala suerte. Todo es posible en las próximas dos carreras, todavía quedan cuatro o cinco aspirantes (al título), por lo que estar en el podio y ser constante serán las claves para ganar el Mundial”, añadió el asturiano.

El otro piloto de McLaren, el británico Jenson Button, campeón vigente, terminó 12º tras haber calculado mal su estrategia y su sueño de conseguir un ’doblete’ parece ya imposible, porque tiene 42 puntos menos que Alonso.

La buena sorpresa del día la protagonizó el brasileño Felipe Massa, que hizo una buena carrera y terminó tercero, algo que no conseguía desde el Gran Premio de Italia en Monza, a principios de septiembre.

El alemán Michael Schumacher terminó cuarto, igualando su mejor resultado de este año. El piloto de Mercedes superó al polaco Robert Kubica (quinto con Renault) y a un sorprendente Vitantonio Liuzzi (Force India), que hizo una remontada espectacular desde el lugar número diecisiete hasta el sexto.

El veterano brasileño Rubens Barrichello (Williams) fue séptimo, seguido por los dos Sauber del japonés Kamui Kobayashi y del alemán Nick Heidfeld, octavo y noveno.

El español Jaime Alguersuari sumó los últimos puntos al terminar décimo con su Toro Rosso.

Publicarán un informe sobre la vida futura de los coreanos

Dentro de poco será posible conocer el nivel de vida que tendrán los coreanos de aquí a 30 años. 

El Gobierno de Corea del Sur ha anunciado que tal pronóstico de futuro será presentado en un exhaustivo informe que el Ministerio de Planificación Estratégica y Finanzas ya ha empezado a elaborar y que se publicará a finales de este año como pronto. 

El documento mostrará la calidad de vida que disfrutarán los surcoreanos en el año 2040 mediante un análisis minucioso de los diferentes aspectos de la sociedad relacionados, sobre todo, con economía, cultura, filosofía, ciencias y tecnología. El informe servirá de referencia para desarrollar políticas a largo plazo en una era en la que la calidad de vida se ha convertido en un concepto fundamental, tan importante como el progreso económico. 

Hasta ahora se han efectuado estudios similares a cargo de instituciones individuales. Sin embargo, es la primera vez que un informe de tal magnitud se realiza bajo la propia iniciativa del Gobierno central. 

Encargados de finanzas del G20 debaten guerra cambiaria

La reunión de ministros de finanzas y jefes de bancos centrales de los Estados miembros del G20 se inauguró el viernes 22 en Gyeongju, provincia de Gyeongsang del Norte. La conferencia tiene por objeto dar el último retoque a la agenda de la Cumbre del G20.

En la primera sesión, desarrollada bajo el título “comportamiento y perspectivas de la economía global”, los titulares de finanzas y gobernadores de bancos fueron informados de la situación económica del mundo según el Fondo Monetario Internacional y el Banco Mundial. También celebraron un intenso debate acerca de las tasas de cambio, abordando diversas medidas para acabar con la guerra de divisas. 

El FMI apoyó la apreciación del yuan chino planteada por EEUU y otros países occidentales, afirmando que Asia debe sobrevaluar sus monedas para hacer frente al aumento de la liquidez. 

En tanto, la Organización para la Cooperación y el Desarrollo Económico enfatizó la necesidad de modificar los tipos de cambio, a fin de resolver el desequilibrio financiero ante la ralentización de la recuperación de la economía internacional. 

Con la misma finalidad, EEUU propuso a su vez imponer un límite del 4% a la magnitud de la balanza comercial con respecto al producto interior bruto.