By Na Jeong-ju
Staff reporter
President Lee Myung-bak pledged Wednesday to provide full support for G20 member nations to help narrow differences as they start working-group meetings in preparation for the Seoul summit slated for November.
“Korea will spare no effort to mediate between developed, developing and underdeveloped countries,” Lee said at the first G20 sherpa meeting for the Seoul summit, which has been underway here since Monday and will end Thursday. “All Korean people, including me, are fully committed to ensuring a successful hosting of the summit.”
Encouraging the participants, Lee stressed that the working-group talks will pave the way for higher-level consultations in the coming months, according to presidential spokeswoman Kim Hee-jung.
“The success of the Seoul summit depends on you. Your role is very important,” Lee was quoted as saying.
About 100 people, including the sherpas of the G20 nations as well as representatives from international organizations participated in the meeting. The G20 will hold a series of such gatherings in the coming months to coordinate the agenda for the Seoul summit and find solutions to challenging economic issues.
South Korean organizers said details of the meeting will not be released to the public, but that it covers key issues and plans for the Seoul summit.
Participants will follow up on previous commitments regarding the global economy, sustainable and balanced global growth, financial sector reform, reform of international financial institutions, and trade and energy, the organizers said.
President Lee has made it clear that he will play a bridging role between developed and emerging economies to address their conflicting views and, for his part, increase Korea’s stake in deciding on the future course of the global economy.
Seoul has vowed to prioritize setting up a global financial safety net for emerging and less-developed nations and stepping up reform of the financial governance structure.
The Seoul summit will also focus on accelerating reform of the IMF and the World Bank, and addressing the needs of developing nations to promote balanced global growth, officials said.