President Yoon: "Will Actively Participate in G20 Cooperation on Food and Energy Sectors"

-Mention of restraint on excessive protectionism... Judgment considering 'global economic risk factors'
-Emphasizing sustainable food and energy systems, proposing "firm solidarity and cooperation"

[Asia Economy Reporter Baek Kyunghwan] President Yoon Suk-yeol attended the 17th G20 Summit held in Bali, Indonesia, on the 15th (local time) and stated, "As a responsible member of the international community, we will actively participate in G20 cooperation in the fields of food and energy." This remark is interpreted as the Korean government expressing its willingness to actively engage in international cooperation through the G20 by mentioning the restoration of the spirit of cooperation to respond to global crises.

On the morning of the same day, President Yoon attended the G20 Summit held at the Apurva Kempinski Hotel in Bali and spoke at a session themed "Food and Energy Security."

This G20 Summit was held under the theme set by the host country Indonesia, "Recover Together, Recover Stronger." The summit consisted of three sessions: food, energy and security; health; and digital transformation. President Yoon spoke at two sessions covering food, energy and security, and health. At this event, President Yoon emphasized the importance of international solidarity and cooperation to respond to global food and energy security threats, stating, "We will contribute to the freedom of global citizens and the prosperity of the international community."

President Yoon proposed, "Please refrain from excessive protectionism in the fields of food and energy." This suggestion comes amid the surge in food prices caused by the Ukraine war, which triggered food export restrictions by neighboring countries. The spread of such food protectionism is seen as a risk factor for the global economy.

President Yoon also stressed, "Member countries must join forces to prevent unreasonable export and production measures that undermine global food and energy price stability." A presidential office official added, "The global weaponization of resources such as energy and food will lead to competition for securing supply chains, rising costs, inflation, and a decline in economic growth rates."

He also emphasized the "establishment of a sustainable food and energy system." President Yoon stated, "A green-friendly and sustainable system must be established," and added, "At the G20 level, more attention should be paid to the development and sharing of innovative green technologies so that the international community can participate in the green transition in the fields of food and energy."

Prior to attending the G20, President Yoon had announced, "We plan to discuss Korea's role in overcoming the complex global economic crisis and propose economic cooperation measures." At the Korea-US-Japan summit, the three countries agreed to establish the "Korea-US-Japan Economic Security Dialogue," a dialogue channel to strengthen cooperation in areas such as energy and supply chains.

In addition, President Yoon emphasized, "Let us solve the food and energy crises with a firm spirit of solidarity and cooperation." He continued, "Since the food and energy crises cause greater suffering to vulnerable countries, the Republic of Korea, which overcame difficulties through past food aid, will take greater responsibility and contribute to the international community through rice aid and other means," and said, "We will also continue to expand green official development assistance (ODA)."

This content was produced with the assistance of AI translation services.