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Lesser-known CEOs to attend G20 meeting

By Cathy Rose A. Garcia Top CEOs from developing countries and emerging markets, such as China, Brazil, Russia, India, Mexico, Turkey and Indonesia will be heading to Seoul for the G20 Business Summit, which will start this Wednesday. The Seoul G20 Business Summit gathers 120 CEOs from leading companies around the world to discuss their views on ``Business’ Role in Sustainable and Balanced Growth,’’ at the Sheraton Walkerhill Hotel, Nov. 10 to 11. While the list of invited CEOs is still mainly from developed countries, the G20 Business Summit organizing committee has recognized the growing influence of CEOs from emerging markets. Numerous CEOs from the so-called BRIC and N-11 countries have been invited. BRIC refers to Brazil, Russia, India and China, while N-11 are countries identified by Goldman Sachs as those with the most potential in the 21st century such as Turkey, Mexico, Indonesia and Vietnam. The list includes Vale CEO Roger Agnelli, Infosys Technologies CEO Kris Gopalakrishnan, Severstal Chairman Alexei Mordashov and Li & Fung Group Chairman Victor K. Fun

Employees of GM Daewoo compare the firms

Participants of the Autonomous Vehicle Competition, organized by

Fresh fears of currency war looming large

Seoul downplays forex feud at G20 By Cho Jin-seo The $600-billion injection plan of the U.S. Federal Reserve has sparked complaints from fellow G20 nations, with only five days left before the critical G20 Seoul Summit. A variety of responses from China, Japan, Brazil, Korea and many other countries to the so-called Quantitative Easing 2 (QE2) were all tinted with a degree of protectionism. Some are even beginning to contemplate the revival of the “currency war” debate, which was thought to be dead at last month’s Gyeongju G20 finance ministers’ meeting. On Friday, Korea’s Ministry of Strategy and Finance and the Bank of Korea announced they will launch another inspection on foreign exchange positions of banks, even though they just finished one this week. The announcement reflects worries in the government that the spillover of the cheap dollar could flood stock and bond markets in Korea, which makes the relatively small economy even more vulnerable to the volatility of the global capital movement. As a further measure of capital control, financial regulators also

Ahmed Subaey, right, CEO of S-Oil, and other employees ...

POSCO Chairman Chung Joon-yang, fifth from right, ...

Vice ministers to fine-tune G20 agenda

By Kim Jae-won Vice finance ministers from the G20 economies will have three-day talks next week to finalize key agenda for the Seoul Summit slated for Nov. 11 and 12, a high-ranking government official said Thursday. The local G20 preparation committee said the meetings will begin Monday to draw up the draft for the declaration that will be passed onto finance ministers on Nov. 11 for last minute high-level discussions to iron out any differences. The results of the ministerial talks will be forwarded to the leaders of the world's 20 advanced and emerging economies the following day for deliberation on the final text of the declaration to incorporate any changes reached at the summit meetings. “Vice finance ministers will make a draft for the Seoul Summit based on the Gyeongju meeting’s communiqué,” Choi Hee-nam, head of Ageda Bureau at G20 committee, said. A communique is a joint statement produced as the final result of each meeting. Ministers at the Gyeongju meeting on Oct. 22 and 23 agreed to refrain from competitive devaluation of their currencies and

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Hana Bank CEO Kim Jung-tae, third from left, poses ...