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Hyundai-Kia Automotive Group Chairman Chung Mong-koo, ...

G20 leaders to discuss food price stabilization

By Kim Da-ye G20 preparation committee vice-chief Lee Chang-yong said Wednesday that the world leaders will discuss how to reduce volatility in food prices at the G20 Seoul Summit in November. “The measures to lessen volatility in food prices was dealt with great importance not only at the Pittsburgh conference in the U.S. but also at the G20 summit in Toronto, Canada,” Lee told reporters at the G20 High-Level Development Conference held in central Seoul. “The issue will be discussed again at the Seoul summit.” The former Financial Services Commission chairman elaborated, “We are focusing on how we would regulate the derivatives involving grains and control the markets relevant to food supplies.” Lee added that for food security, a fund has been set up to support the infrastructure to improve agricultural productivity. World leaders will discuss in detail in Seoul how they are going to use the fund. Kenny Dick, leader of the food security and agricultural team at the U.K. Department for International Development, said in his presentation that in order to stabilize fo

Employees of Korea Post show plastic bottles made of ...

Doosan Group Chairman Park Yong-hyun, center, listens to ...

POSCO Senior Executive Vice President Park Han-yong, ...

Students at LG Electronics-funded underprivileged ...

POSCO Chairman Chung Joon-yang, third from left, ...

Cosmetics company AmorePacific CEO Suh Kyung-bae, ...

Currency war moves to G20 Seoul Summit

By Cho Jin-seo WASHINGTON — The international tension on economic policies is looking to reach a climax at the G20 Seoul Summit, as the International Monetary Fund (IMF) ended a general meeting without any clear solutions on sensitive issues such as voting share reform and exchange rate rebalancing. The issues will now be passed on to G20 meetings to be held in Seoul later this month and the summit in November. Development of discussions over the next four weeks will decide whether the G20 can claim its legitimacy as a premier global decision-making body, with Seoul playing a crucial role as the host and mediator between global powers. IMF Managing Director Dominique Strauss-Kahn wrapped up the IMF’s policy steering committee meeting on Saturday by masterfully avoiding touching thorny issues such as the U.S.-China tussle over their currencies exchange rate. “What I want to explain is that the discussion which takes place, not only between China and the United States but with other partners, is a very important one and I think that we are now arriving at the mome

FKI Vice Chairman Jung Byung-chul, second from right, listens to