Moon Jae-in Attending G7: "International Cooperation Needed for Free Trade and Open Economy"

[Image source=Yonhap News]

[Asia Economy Reporter Eunbyeol Kim] On the morning of the 13th (local time), President Moon Jae-in emphasized to the leaders of the Group of Seven (G7) the necessity of international cooperation for free trade and an open economy.

President Moon attended the second session of the expanded G7 summit under the theme of "Open Societies and Economies." The meeting included leaders from the G7 countries, four invited nations, and United Nations Secretary-General Ant?nio Guterres.

At the meeting, President Moon introduced South Korea's democratization experience and efforts toward an open society, suggesting stronger measures against threats such as racism and extremism, and stressed the importance of an open economy to achieve this.

He also stated that South Korea is working to strengthen the democratic capacities of other countries through the New Southern Policy and development cooperation projects, and expressed the intention to expand contributions to the multilateral cooperation fund "Global Partnership for Education (GPE)," which primarily supports women and children in developing countries.

The attending leaders reached a consensus on the importance of promoting free and fair trade and an open economy. The Blue House evaluated, "The Korean economy is highly dependent on foreign trade, and companies also base their survival on free trade," adding, "This meeting, which emphasized the message of free trade, will be helpful for Korean companies' overseas activities."

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