Saturday, 9 October 2010

Some Public Information about Korea:Economy in a Nut Shell

releated image
Korea recently pulled through an economic storm that began in late-1997. This crisis, which roiled markets all across asia, had threatened Korea's remarkable economic achievements. However, thanks to the faithful implementation of an agreement with IMF, the Korean government's b resolve for reform, and successful negotiation of foreign debt restructuring with creditor banks, the nation is currently on
  • track to resume economic growth. Since the onset of the crisis, Korea has been rapidly integrating itself into the world economy. The goal of the nation is to overcome problems rooted in the past by creating an economic structure suitable for an advanced economy.
  • Korea, once known to be one of the world's poorest agrarian societies, has undertaken economic development in earnest since 1962. In less than four decades, it achieved what has become known as the "economic miracle on the Han River", a reference to the river that runs through Seoul - an incredible process that dramatically transformed the Korean economy while marking a turning point in Korea's history.
  • an outward-oriented economic development strategy, which used exports as the engine of growth, contributed greatly to the radical economic transformation of Korea. Based on such a strategy, many successful development programs were implemented. as a result, from 1962 to 2003, Korea's Gross National Income (GNI) increased from US$2.3 billion to US$608 billion, with its per capita GNI soaring from US$87 to about US$12,720. These impressive figures clearly indicate the magnitude of success that these economic programs have brought about.
  • GNI and per capita GNI drastically dropped to US$312 billion and US$6,744 in 1998 due to the fluctuation in foreign exchange rates but returned to the pre-economic crisis level in 2002.
  • Korean imports have steadily increased thanks to the nation's liberalization policy and increasing per capita income levels. as one of the largest import markets in the world, the volume of Korea's imports exceeded those of China in 1995, and were comparable to the imports of Malaysia, Indonesia, and the Philippines combined.
  • Major import items included industrial raw materials such as crude oil and natural minerals, general consumer products, foodstuffs and goods such as machinery, electronic equipment and transportation equipment.
  • Korea developed rapidly from the 1960s, fueled by high savings and investment rates, and a b emphasis on education. The nation became the 29th member country of the Organization for Economic Cooperation and Development (OECD) in 1996.
  • With a history as one of the fastest growing economies in the-world, Korea is working to become the focal point of a powerful asian economic bloc during the 21st century. The Northeast asian region commands a superior pool of essential resources that are the necessary ingredients for economic development. These include a population of 1.5 billion people, abundant natural resources, and large-scale consumer markets.
  • Major Economic Indicators
  •  GDPGNIGNI per
    capita
    Growth
    Rate(%)
    GDP
    deflator(%)
    KRW100mil$0.1bilKRW100mil$0.1bil1,000
    won
    $GDPGNIindexGrowth
    rate
    19974,911,3485,1644,884,5745,13610,62911,1764.72.793.74.6
    19984,841,0283,4614,762,4543,40410,2897,3559399.45.8
    19995,294,9964,4525,233,5534,40011,2279,4389.59.499.31
    20005,786,6455,1185,761,6005,09612,25710,8418.55.5100.00.7
    20016,221,2274,8206,210,2794,81113,11510,1603.82.8103.53.5
    20026,842,6355,4696,850,6905,47514,38811,4997.07.0106.52.8
    20037,245,7496,0807,254,2036,08615,16112,7203.11.9109.42.7
    20047,784,4466,8017,794,6786,80716,21114,1624.63.8112.32.7
  • The share of agriculture and forestry among the entire industries gradually decreased to 3.1 percent of GNI as of 2003; farming population numbered 3.5 million, or 7.4 percent of the total population. although the share of agriculture itself is very meager, that of agriculture- related industries, such as the input industry - mainly fertilizers and agricultural chemicals - distribution and transportation industry, food-processing industry and food service industry reaches 14 percent.
  • The launch of the WTO in 1995 has quickly transformed the farming environment by rapidly liberalizing the agricultural market and constantly dragging down the price of agricultural products. Farmers thus became anxious and the past agricultural policy which focused on production increase seemed to have reached its limits. So today, Korea's agricultural policy focuses on strengthening the competitiveness through economy of scale and producing safe and high quality products. On top of that, Korea plans to transform rural villages into a space where people can engage in diverse industrial activities and enjoy lives.

  • GDP of agriculture & Forestry

  • (Unit: KRW 100mil.%)
  •  '00'01'02'03
    Production%Production%Production%Production%
    agriculture,
    forestry
    330,007100336,327100334,445100330,163100
    griculture318,29096.4324,47596.5321,63796.2318,08796.3
    Cultivation237,46572.0241,35571.8231,11869.1229,39169.5
    -Crop114,35534.7117,74835.0104,75531.397,55229.6
    -Vegetable67,24220.472,73621.667,69420.376,18923.1
    -Fruit25,8057.820,7676.225,8277.723,4857.1
    -Others30,0639.130,1048.932,7429.832,1659.7
    Livestock80,82524.583,12024.790,51927.188,69626.9
    orestry11,71711.85211,8523.512,8083.812,0763.7

Korea’s rural areas attract foreigners with four-themed tour programs

 MIFAFF runs Rural-20 Supporter Program for foreigners staying in Korea from August 11th to November
- First attempt to promote rural areas as tourist attractions to overseas with four-themed tour programs such as 'Experience, Nature, Orient and Well-being 
 
"Do not see rural areas as just places for food production." This is the motto of people working for the Rural-20 Project.
Rural-20 is a project that the Ministry for Food, Agriculture, Forestry and Fisheries (MIFAFF) has been pushing forward to promote Korea’s rural tourism overseas, taking the momentum of G-20 Summit to be held in Seoul in November.
MIFAFF has already selected and publicized the list of 20 sites in rural areas that boast of beautiful scenery and traditional culture in March. To make these sites more appealing, four-themed tour programs (experience, nature, orient and well-being) has been designed according to the unique characteristics of each site.
In 'Experience Travel', visitors can enjoy various experience programs that are only found in Korea's rural areas while they are able to see well-preserved nature in 'Nature Travel.'
'Orient Travel' provides the opportunity to feel the depth of 5,000 years of history and see antique remains. Through 'Well-being Travel', tourists can find full-relaxation along with healthy Korean food.
The Ministry runs Rural-20 Supporter Program from August 11th to November, when the Summit is scheduled to be held, to provide foreigners staying in Korea a chance to enjoy Korea‘s rural areas based on these tour programs. 
 
MIFAFF is going to operate this program for a total of 2,100 foreigners through active on- and off-line promotion towards Korean language institutes, embassies and others.
More detailed information about application for the program and Rural-20 Tour can be found at the Rural-20 Homepage (http://www.rural20.kr), available in three languages including English, Japanese and Chinese.
For effective operation, the Ministry educated residents in Rural-20 sites about etiquette for foreigners and ran a pilot program for about 200 foreigners in June and July. Aikeremu Aini, a Chinese student at Yonsei Korean Language Institute who participated in the pilot program, said "It was a great opportunity to learn more about Korea's tradition and I hope to have a chance to experience the actual farming in the future." 
 
Furthermore, the Ministry made brochures and videos in three languages (English, Chinese and Japanese) introducing Rural-20 and will distribute them to Korean language institutes, embassies, major tourist information centers and overseas offices of the Korean Tourism Organization. 
 
Rural-20 Project is the first effort at the government level to introduce Korea’s rural areas as tourist attractions to overseas and is expected to greatly contribute to vitalizing Korea’s rural tourism begun in 2002.
 
An official from the Ministry remarked that Rural-20 Project is going to herald a new chapter in Korea’s rural tourism, which has mainly focused on domestic visitors until now. “This project is also going to help boosting the economy of Korea’s rural areas and creating jobs” added the official.
source:Ministry of Food,Agriculture and Fisheries,Korea

Google selects Korean as voice search language

Mike Schuster, left, and Ted Cho answer questions via a remote broadcast from the U.S. on Google’s Korean voice input service. provided by the company

Google Korea announced the launch of a local voice input service yesterday that would make Korean the only language other than English used in the global service.

Google said it represented a significant upgrade of its popular voice search service, which was launched in Korea on June 16.

“The mobile traffic for Google’s mobile search jumped by 19 fold compared to that at the beginning of the year,” said Ted Cho, Google Korea’s engineering director. 

Google said will improve voice recognition in conducting searches that can also be used for Gmail, Google Talk, SMS and Google Maps services.

The company said that Korean was selected as the second language because tests showed that it could be used with a high degree of accuracy. 

A demonstration by Google Korea at a news conference yesterday at its headquarters in Yeoksam-dong, southern Seoul, showed the Korean-language service was close to perfect as it clearly displayed every word and sentence that was spoken into the device.

Although there were a few grammatical mistakes, such as spacing errors, the company said these problems would soon be resolved.

“Google is committed to improve the quality for end-users with regular updates as the Korean voice input is another step towards Google’s long-term goal to make speech an acceptable and useful input modality for any mobile device,” said Mike Schuster, head of voice recognition research at Google.

Google Korea said that its new voice input service will only be available on Google’s Android 2.2 or newer operating systems.

It added that it currently had no plans to support the service for the iPhone as it did not have client code access to Apple device keyboards.
Source:joongang daily

HANGUL DAY

Today, October 9th, is Hangul Day (한글날), the celebration of the promulgation of the Korean alphabet Hangul 한글 by King Sejong the Great in 1446.
King Sejong (세종대왕 in Hangul, 世宗大王 in Chinese characters), the fourth king of the Choson dynasty, was born May 6, 1397 and ascended the throne in 1418 at the age of 21. He died May 18, 1450 aged only 53. He is known for his work improving Korea's defenses against Japanese pirates and invaders from Manchuria, for his patronage of scholarship (among other things, he founded the 집현전 集賢殿 (Jiphyeonjeon) or "Hall of Worthies", a kind of royal academy) and for his own scholarly work. He is credited with the invention of a rain gauge, a water clock, and a sundial. His literary works include the highly regarded Yongbi Eocheon Ga "Songs of Flying Dragons", Worin Cheon-gang Jigok "Songs of the Moon Shining on a Thousand Rivers", and Seokbo Sangjeol"Episodes from the Life of the Buddha". He also compiled the Dongguk Jeong-un "Dictionary of Proper Sino-Korean Pronunciation". Most of all, he is known as the creator and promulgator ofHangul.
Prior to 1446, the Korean language was rarely written at all. The written language used in Korea was Classical Chinese. The combination of the use of a foreign language with the large amount of memorization required to learn thousands of Chinese characters meant that only a small elite were literate, overwhelmingly men from aristocratic families. The great majority of people were illiterate. On the relatively rare occasions when Korean was written, it was written using Chinese characters, in part for their sound, in part for their meaning. This too was a complex system poorly suited for mass literacy. Hangul was the first writing system to make it easy for any Korean to read and write his or her native language.
I won't give a detailed exposition of Hangul because it would take a good bit of time and space and there are a number of good ones available. The Wikipedia article is quite good and contains additional links.
Hangul is an alphabet. Some letters represent consonants, such as ᄀ /g/, ᄂ /n/, ᄃ /d/, and ᄆ /m/. Others represent vowels, such as:  ᅡ /a/   ᅦ /e/   ᅵ /i/    ᅩ /o/   ᅮ /u/. They are normally written in squarish groups that vaguely resemble Chinese characters. For example: 기 /gi/,   김 /gim/,   미 /mi/   and 민 /min/. If there is no initial consonant, a special "null consonant" letter is used; in normal writing, the isolated vowels exemplified above are therefore actually written: 아 에 이 오 우.
It is for this reason that Hangul is sometimes wrongly considered a syllabary. It isn't, since it is completely analyzable at the segmental level. In fact, the groups into which the letters are formed do not correspond exactly to syllables. The rule since 1931 has been that consonants that belong to the same morpheme must remain within the same block. Thus, "chicken" is underlyingly /dalg/, written 닭. In isolation, the /l/ is not pronounced, but both post-nuclear consonants are written. When the nominative case suffix /i/ is added, the /g/ resyllabifies into its onset and the word is pronounced /dal.gi/, so we might expect to write *달기. In fact, the correct spelling is 닭이.
Hangul is considered a great achievement for several reasons. First and foremost, it is a perfect alphabet. It distinguishes all of the distinct sounds in Korean and makes no subphonemic distinctions. From the point of view of the reader, there are no ambiguities. From the point of view of the writer, there are a few ambiguities in that in certain environments syllable-final nasals may be written either as nasals or as the plain stops of the same point of articulation. This is not an error but reflects a decision to write at a higher level of abstraction than a classical phonemic representation. It makes things slightly harder for the writer but makes things easier for the reader, who is given more direct access to lexical representations.
Other reasons that Hangul is considered such a great achievement are found in details of its design. Hangul exhibits a significant degree of featural decomposition. That is, components of the letters correspond to phonological features. For example, the aspirated series of stops and affricates are written by adding a horizontal stroke to the letters for the plain series. Thus we have: 가 /ga/ vs. 카 /ka/, 다 /da/ vs. 타 /ta/, 바 /ba/ vs. 파 /pa/, and 자 /ja/ vs. 차 /ca/.
The shapes of the letters are based on the configuration of the articulators in making the corresponding sounds. This was truer in the original version of Hangul than it is now. The fairly modest changes over the past few centuries have in some cases slightly obscured this relationship.
Hangul is well designed for the reader, in that the letters are easily distinguished, and for the writer, in that the letters are simple. Even I can write legibly in Hangul.
Finally, Hangul is considered a great achievement because the perfection of its design and the care and insight with which it was designed are considered unique and to have had no precedent. Although Hangul certainly represents a very high point in the design of writing systems, it isn't true that its designers had no precedent to work with. They were familiar with Chinese phonological theory and to some degree at least with the writing systems of the Tibetans, the Mongols, the Japanese, and the Jürchen. We know that they were acquainted with alphabetic writing in the form of the Devanagari alphabet in which the Sanskrit of the Buddhist scriptures was written and in the form of the Phags-Pa alphabet. The idea that Hangul sprang from nothing is a bit of an exaggeration.
I submit that we should honor King Sejong as much for his reasons for creating a new writing system as for its technical beauty. Sejong was very explicit about why he considered it important to introduce Hangul. His goal was to make literacy accessible to everyone. This can be seen from the opening paragraph of the 訓民正音 (훈민정음), the document in which King Sejong promulgated the new writing system. Here is the original document, in Classical Chinese:
The first page of the Hunmin Jeong-eum

and here is a translation:
The sounds of our country's language are different from those of China and do not correspond to the sounds of Chinese characters. Therefore, among the stupid people, there have been many who, having something to put into writing, have in the end been unable to express their feelings. I have been distressed by this and have designed twenty-eight new letters, which I wish to have everyone practice at their ease and make convenient for their daily use.
Nowadays that isn't such a striking goal, but in his world it was remarkable. In 15th century Korea, as almost everywhere else in the world, literacy was restricted to a small elite - most people were illiterate. Furthermore, Korean society was extremely hierarchical. It consisted of three tiers, nobles, commoners, and slaves. It was almost impossible for a slave to become free, or for a commoner to become a noble. Until 1444, when King Sejong forbade the practice, a slave's owner had the right to kill him at whim.
The dominant ideology was Confucianism, a philosophy based on the relationships between ruler and subject, parent and child, older and younger, man and woman, and friend and friend, the first four of which are conceived as inherently unequal. Women could not inherit property. In short, 15th century Korea was a highly stratified society rigidly controlled by a small elite in which those who were not elite and not male had few rights.
Indeed, there was strong opposition to the introduction of Hangul on the part of King Sejong's court, so strong that they presented a memorial in opposition and debated with him verbally. The reasons they gave were in part that it was wrong to deviate from the Chinese way of doing things, and in part that such a simple writing system would lead to the loss of aristocratic privilege. Their motives may have been wrong, but they understood the effects of mass literacy all too well. After King Sejong's death, Hangul was very nearly suppressed. It took much longer to come into wide use than he had intended due to the opposition of the aristocracy.
For the king himself in such a society to create the means for mass literacy, knowing full well its liberating effect, is absolutely stunning. King Sejong was not merely a great scholar; he was a great humanitarian.
Hangul Day is celebrated on October 9th in South Korea and (under the name 조선글날 Choseongeul Day, using a different word for "Korea" in the compound "Korean writing") on January 15th in North Korea. From 1960 until 1991 it was a legal holiday in South Korea. Along with United Nations Day, it was reduced to a "commemorative day" due to pressure from large corporations, which wanted to increase the number of work days and saw Hangul Day as dispensable.
If you like to celebrate with a drink, I suggest some 막걸리 makkeolli, a kind of rice wine also known as 농주 nong-ju "farmer's wine". It is triply appropriate. It is particular to Korea, it is the drink of ordinary rural people, and its name is similar to that of the late Jim McCawley, one of the few non-Koreans to celebrate Hangul Day.
[Addendum 2005-10-10: A reader inquires about the difference in the dates between North and South Korea. In South Korea the date chosen is intended to approximate the day on which the 訓民正音 (훈민정음) was proclaimed. Internal evidence shows that it was proclaimed in the first ten-day period (上旬) of the ninth month of the old lunar calendar. October 9th corresponds to the tenth day of the ninth month. The date used in North Korea is believed to be the day on which the document was actually created. The fact that October 9th is the celebration of the anniversary of the Worker's Party may or may not be relevant. It is certainly plausible that a different date was found for Hangul Day so as not to conflict with Worker's Party Day, but I don't know which date was set first. 

Popularity of green, energy-efficient homes grows in Korea

aegu "Energy Zero" House
Daegu Energy-Zero House (Photo: Yonhap News)
Daegu Energy-Zero House (Photo: Yonhap News)
Korea is no stranger to efforts to save energy and reduce Co2 emissions. One of many efforts to green Korea’s energy use has been to develop high-tech, environment-friendly homes which not only save energy, but also cut costs in the long run. Premier among these new building styles is the “energy zero” house.

An energy-saving green home was established in early September this year in Daegu, and is the first of its kind to be built not as a model home but as an actual residence. This collaborative effort by the Korea Institute of Construction Technology (KICT) and Hanbo Engineering Co. measures 228 square meters and cost 300 million won, only slightly more than a conventional building.

Instead of concrete and bricks, Hanbo Engineering used high insulation panels (HIP) to construct the floor, roof, and walls. Energy efficiency was also raised by the use of air-tight windows and doors, natural ventilation, and a landscaped rooftop.

Most of everyday energy needs will be met by a photovoltaic power generator on the roof, which is expected to generate about 500 to 700 kWh per month. The house also has a geothermal energy system that utilizes an underground heat pump. The thermal energy drawn from this pump will be used to both heat and cool the residence.

“The house can function on only 10 percent of the energy used by average house,” explained Dr. Cho Dong-woo of KICT. “With the expenses for heating and cooling included, we expect energy to cost around 200,000 won per year.” The new green home will be monitored for the next two years. If the results are positive, the house may become the new standard for buildings the future. 

Government policies and model houses 

Green Tomorrow House (Samsung C&T Corp.)
Green Tomorrow House (Samsung C&T Corp.)
The Korean government is at the forefront of green home construction, and the Presidential Committee of Green Growth has already decreed all new houses must be built for zero carbon emissions by 2025. Additionally, households must reduce their annual energy usage by 30 percent by 2012 and 60 percent by 2017. The hope is that new buildings will be some form of “Passive House” with the ability to maintain a constant indoor temperature around 20 degrees with low energy use.

Non-residential buildings will be required to reduce their energy use by 15 percent by 2012, 30 percent by 2017, and 60 percent by 2020. Standards for insulation on windows and doors will be strengthened by 2012.

The government has also taken steps to convert an existing 1 million homes into “green homes” by 2018 through renovation subsidies for rental spaces. Further subsidies will be considered for remodeling apartments and other multi-family dwellings. By 2018, at least 1 million out of 1.5 million homes will be built using “green” methods.

In line with the government policy, many domestic construction companies have begun presenting model houses themed on zero-energy.

In November 2009, Samsung C&T Corp. opened an energy-zero building, “Green Tomorrow” in the city of Yongin, Gyeonggi-do. Sixty-eight different kinds of cutting edge green technology were applied, including 34 zero-energy technologies such as natural lighting, solar panels, and wind power, 18 green technologies such as waste material reduction and environment-friendly materials, and 16 kinds of green IT, such as RFID and smart grids.

Designed to absorb light and surrounded by top quality insulation, the Yongin construction managed to reduce its energy use by 56 percent, compared to the average household. Forty-four percent of its energy was self-produced. Samsung plans to apply the methods used for Green Tomorrow in all its existing Remian Apartment complexes from 2013.

Zener Heim House (Daewoo E& C Corp.)
Zener Heim House (Daewoo E& C Corp.)
Daewoo Engineering & Construction presented their “Zener Heim,” which requires almost no outside energy for creating electricity, heating and ventilation. As the only presentation to provide a real walk through experience, rather than computer simulations, the house garnered a great deal of media attention.

GS Engineering and Construction (GS E&C), too opened a promotional booth for its “Green Smart Xi” in the Mapo district in Seoul. Green Smart Xiis an energy-saving green home that is currently under development at the company research center to be an “energy zero” house, using solar, wind, and other renewable energy sources.

Daelim Industrial Co. presented of its proposal for a 2012 establishment of a “Eco 3-liter House,” which minimizes energy for heating and cooling. The plan is to develop an eco-efficient technology that requires only three liters of fuel per square meter for heating and cooling per year. 
source:Korea.net

Nine sites in Jeju Island designated UNESCO global geoparks


Photo: Yonhap News
Photo: Yonhap News
Halla Mountain, Manjanggul Cave, Seongsan Ilchulbong Peak, and other six sites on Jeju Island were named global geoparks by UNESCO.

UNESCO’s Global Geopark Network of National Geoparks (GGN) announced at the 9th European Geoparks Conference, held on Lesvos Island in Greece on Sunday, October 3 (Korean time), that it has officially designated nine scenic sites in Jeju-do as global geoparks. Korea is the fifth country in Asia to be recognized by UNESCO for its geoparks.

The sites are Halla Mountain, Seongsan Ilchulbong Peak, Manjanggul Cave, the Seogwipo Stratum, the Cheonjiyeon Waterfalls, Jusangjeolli Cliffs, Sangbang Mountain, Yongmeori Beach and Suwolbong Peak.

This isn’t the first time the island has received attention for its rich natural environment. Of the newly designated geoparks, Hallasan, Seongsan Ilchulbong, and Manjanggul were also designated UNESCO World Natural Heritage sites in 2007. Hallasan was also certified as a Biosphere Reserve in 2002. Additional honors went to the unique culture of Jeju, as its shaman dance “Chilmeori-dang Yeongdeung-gut” was included in UNESCO’s Intangible Cultural Heritage of Humanity list in 2009.

“Jeju-do is the only place in the world that has won the so many world titles from UNESCO,” said Woo Keun-min, Governor of Jeju Special Self-Governing Province, on Monday (Oct. 4). “To be designated as a UNESCO World Geopark is an outstanding achievement.”

UNESCO plans to deliver the document of ratification to Jeju-do at the fifth general conference of World Geoparks, scheduled to take place in Unzen, Japan in 2012.

The latest ratification is expected to be reflected in booklets and promotional materials issued by UNESCO, and hopefully give tourism for the region a boost.

Jeju-do plans to form a task force of geology experts and public officials to help manage the designated sites. The team will be in charge of overall management, including establishing a visitors’ center, information guide, and work on systematic preservation and utilization of the sites.

Jeju-do will also pursue exchange and cooperation with other geoparks abroad, and bid to hold the sixth general conference of GCN, scheduled for 2014.

UNESCO’s Geoparks Programme aims to preserve sites of academic value for earth sciences and geography, and enhance the value of those sites by stimulating tourism and promoting regional economic development. Sites are assessed in six categories, including on soil quality and scenery, management system, explanations and environmental education, tourism, sustainable development of the regional economy, and accessibility. Aside from key areas that require special preservation, development is allowed for tourism. Re-evaluation will take place once every four years for the first eight years after ratification.

There are currently 66 sites in 21 nations included on the list.
source:Korea.net

Symposium discusses expansion of G20 roles

World-renowned scholars, business leaders, and high-ranking officials from international organizations and the Korean government gathered to attend the G20 Seoul International Symposium, which took place on September 28-29, at a hotel in southern Seoul.

There has been strong interest both domestically and internationally in the symposium, which was co-hosted by the state-run Korea Development Institute, the Brookings Institution, and the Dong-A Ilbo.

Speakers took part in in-depth discussions on the issues of regularization of the G20 summit meeting and the issue of development in developing countries. 

Scholars, business leaders, and high-ranking officials of international organizations and governments attended the G20 Seoul International Symposium, which took place on September 28-29, at a hotel in southern Seoul.

One of the most prominent speakers at the symposium was former Canadian Prime Minister Paul Martin. He pointed out the limitations of the G8, while strongly advocating the expansion of the roles of G20.

The former Canadian Prime Minister has been widely regarded as a major supporter of the G20 since 1999, when he chaired the first G20 Finance Ministers' Meeting during his tenure as Canadian Finance Minister. In 2005, as Prime Minister, he suggested that the G20 meeting should be upgraded to summit status.

Professor Victor Murinde of the University of Birmingham, (left) addresses at the G20 Seoul International Symposium on Sep. 28 in Seoul. (Photo: Yonhap News)

Since the G8 does not include several key economic players like China, India, Brazil or Russia, he said the G8 cannot function as a global steering committee. He said the G20 system is more desirable, because more countries can participate in the decision-making process, in cooperation with a growing number of emerging economies.

The symposium's agenda also addressed issues on the agendas of the upcoming G20 Seoul Summit, such as managing global financial safety networks. Martin said the financial safety network is a good example of why the G20 is needed. Since Korea has first-hand experiences of financial crisis, the need for a financial safety network was reflected in the agendas of the G20 Seoul Summit.

Regularizing the role of the G20 was also discussed at the meeting, including the potential for executive offices. SaKong Il, Chief of the Presidential Committee for the G20 Seoul Summit, said building offices for the G20 was one of three ways to regularize the G20 suggested by the United Kingdom and Korea before the fourth G20 summit. He also said the role of the G20 as a global steering committee will be strengthened if the G20 Seoul Summit concludes successfully.

Former Canadian Prime Minister Paul Martin (center) and SaKong Il, Chief of the Presidential Committee for the G20 Seoul Summit, (right) give interviews on Sep. 28 at the G20 Seoul International Symposium, which was held in Seoul.

At the conclusion of the first day, Minister of Culture, Sports and Tourism Yu In-Chon held a luncheon for speakers at a hotel in southern Seoul. The luncheon attendees enjoyed watching performances of talchum, a traditional Korean mask dance, and geomungo, a six-stringed traditional Korean zither, arranged by the Korean Overseas Culture and Information Service of the Ministry of Culture, Sports and Tourism. In his celebratory speech, Minister Yu expressed his hope that the G20 Seoul Summit will be as fruitful as the harvest season itself.

On the second day, SaKong Il led a roundtable discussion on "The G20 as a Global Steering Committee beyond the Crisis?
source:Korea.net

कोरियाई प्रायद्वीप का बदलता भू-राजनीतिक परिदृश्य

 कोरियाई प्रायद्वीप पर उत्तर और दक्षिण कोरिया के संबंधों की वर्तमान स्थिति एक नए युग की भू-राजनीतिक प्रतिस्पर्धा का प्रतीक है। यह बदलाव वैश्...