G2 Leaders Absent as Davos Forum Opens on 16th

President Yoon and 52 Other Top-Level Officials Attend

[Asia Economy Reporter Yujin Cho] The World Economic Forum (WEF, Davos Forum), where global political leaders and top economic figures gather, is expected to be held this year without the participation of the leaders of the two major powers (G2). Among the G7 leaders, only German Chancellor Olaf Scholz will attend.

According to major foreign media on the 10th (local time), the annual meeting of the Davos Forum will be held for five days from the 16th in the Swiss resort town of Davos under the theme of "Cooperation in a Fragmented World."

This year’s Davos Forum will see the absence of G2 leaders such as U.S. President Joe Biden and Chinese President Xi Jinping. Bloomberg reported that President Biden has decided to cancel his attendance at the Davos Forum and will send a government delegation composed of Labor Secretary Marty Walsh and U.S. Trade Representative (USTR) Katherine Tai.

Chinese President Xi Jinping will also be absent for the third consecutive year. He attended only virtually in 2021 and 2022. This year, Vice Premier Liu He is expected to visit Davos on behalf of President Xi.

The organizers stated, "52 government representatives leading their respective countries, including German Chancellor Olaf Scholz, around 600 CEOs representing energy, finance, and infrastructure sectors, and heads of international organizations will attend in large numbers."

They also added, "More than 2,700 high-ranking officials, including 19 central bank governors, 56 finance ministers, 35 foreign ministers, 35 trade ministers, politicians, corporate executives, and academics, will gather to discuss the pressing global issues."

This year’s theme, "Cooperation in a Fragmented World," aims to explore ways for countries worldwide to collaborate again based on shared values amid the deepening health, security, and economic crises caused by the COVID-19 pandemic and the Ukraine war.

[Image source=Reuters Yonhap News]

From South Korea, President Yoon Suk-yeol will attend the WEF meeting. This marks the first time in nine years that a South Korean president has personally attended the WEF since former President Park Geun-hye in 2014.

On the 19th, President Yoon is scheduled to deliver a special speech at the WEF, presenting international cooperation and solidarity measures for strengthening supply chains, transitioning to clean energy, and establishing a digital order, while introducing South Korea’s role in supporting these efforts.

Among the G7 leaders, only German Chancellor Olaf Scholz will attend. Chancellor Scholz is expected to convey a message emphasizing the need to avoid Cold War mentalities through building economic blocs.

Ukrainian President Volodymyr Zelensky, whose country is at war with Russia, will also attend the WEF to present the current situation in Ukraine and request support from various countries. It is reported that Russia will not send a delegation to this year’s WEF, following last year’s absence.

Additionally, 39 representatives from the United Nations and its affiliated organizations, the International Monetary Fund (IMF), the North Atlantic Treaty Organization (NATO), and others are expected to appear at the WEF.

At the WEF, world leaders and experts will exchange views on topics requiring joint global responses, including security issues such as the Ukraine war, climate change, economic crises including inflation, cybersecurity, employment, and artificial intelligence.

Leading figures from South Korea’s business community, including Samsung Electronics Chairman Lee Jae-yong, SK Group Chairman Chey Tae-won, Hyundai Motor Group Chairman Chung Eui-sun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin, and Hanwha Solutions Vice Chairman Kim Dong-kwan, are also expected to attend.

It is also reported that HD Hyundai President Jung Ki-sun, Hyosung Vice Chairman Cho Hyun-sang, and Korea Employers Federation Chairman Sohn Kyung-shik will attend.

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