Bilateral Talks with Global Leaders Beyond ASEAN... Yoon's Full Effort in Expo Hosting Bid

G20 Summit Day 1: Bilateral Talks with 6 Countries
Strengthening Cooperation in Defense, Nuclear Power, Advanced Industries, and Trade

On the 9th (local time), President Yoon Suk-yeol appealed for support to host the 2030 Busan World Expo through a series of bilateral summits held on the sidelines of the Group of Twenty (G20) summit. With just over three months remaining until the final vote on the 2030 Expo host city, following the ASEAN (Association of Southeast Asian Nations) summit, the strategy is to secure last-minute backing through bilateral talks at the G20 as well. Additionally, they sought to establish economic cooperation possibilities by agreeing to pursue steady collaboration and development in the fields of defense, nuclear power, advanced industries, and trade.

On the same day in New Delhi, India, President Yoon held bilateral summits with Argentina, T?rkiye, Bangladesh, Nigeria, Comoros, and Nigeria again, requesting support for the 2030 Busan Expo. Earlier, from the 6th to the 8th, President Yoon appealed for support to host the 2030 Busan Expo during summits with the Cook Islands, Vietnam, Canada, Malaysia, Cambodia, Vietnam, Singapore, and the Philippines, as well as a bilateral meeting with Laos. Notably, during the summit with Turkish President Recep Tayyip Erdo?an, President Yoon requested T?rkiye’s support, and President Erdo?an responded that he was well aware of Korea’s strong desire and efforts to host the Expo, according to the presidential office.

President Yoon Suk-yeol is taking a commemorative photo with Recep Tayyip Erdogan, President of Turkey, at the Korea-Turkey summit held on the 9th (local time) at the Bharat Mandapam International Convention Centre in New Delhi, India. [Image source=Yonhap News]

In addition, discussions were held regarding cooperation in supply chains, defense, nuclear power, and advanced industries. President Yoon congratulated President Erdo?an on the 100th anniversary of the founding of the Republic of T?rkiye, Korea’s blood ally, and said, “As this year marks the 10th anniversary of the Korea-T?rkiye Free Trade Agreement (FTA), I hope that trade between the two countries will expand more mutually beneficially.” President Erdo?an first expressed deep gratitude for the support from the Korean government and people for the victims of the T?rkiye earthquake. He added, “I hope Korean companies’ investments in T?rkiye will expand further and that economic relations between the two countries will develop more mutually beneficially,” and responded, “I hope the FTA between the two countries will be revised to further expand mutual trade and investment.” President Erdo?an also requested, “Let us expand and develop cooperation in the defense sector between the two countries to include drones, cargo aircraft, and armored vehicles.” In particular, the two leaders agreed to continue consultations on the participation of Korean companies in the new nuclear power plant construction project under consideration by T?rkiye.

President Yoon also held his first summit with Alberto Fern?ndez, President of Argentina, a resource-rich country in South America. President Fern?ndez said that the two countries have high potential for cooperation in renewable energy and critical mineral supply chains and expressed hope for enhanced cooperation in future industries. He especially noted that Argentina possesses abundant high-quality lithium and hopes that lithium mining will be linked with Korea to enable local battery production. President Yoon said they would jointly review the issue of local lithium battery production. He also highlighted the cooperation potential between Korea, which has advanced technology in hydrogen utilization, and Argentina, which is rich in renewable energy resources, and suggested close communication on cooperation plans in related fields.

During the Korea-Bangladesh summit with Prime Minister Sheikh Hasina, the two leaders highly evaluated the expansion of cooperation in trade, investment, infrastructure, and development over the 50 years since diplomatic relations were established and agreed to continue cooperation in the future. The two leaders recalled that Korean companies have continuously participated in the construction of key infrastructure in Bangladesh, such as the Jamuna Bridge, Shahjalal International Airport, and the National University Hospital. President Yoon said, “As Bangladesh’s rapid growth continues, demand for construction and infrastructure is also rapidly increasing, so we will expand support for infrastructure construction through the Economic Development Cooperation Fund (EDCF) and Economic Development Promotion Fund (EDPF).” He requested attention and support for smooth business activities as Korean companies are expanding into various fields such as automobiles and electronics.

In the summit with Bola Ahmed Tinubu, President of Nigeria, discussions were held on revitalizing Korean companies’ entry into Nigeria and promoting trade and investment between the two countries. Nigeria is the largest overseas construction contract recipient for Korean companies in sub-Saharan Africa and accounts for 13% of Korea-Africa total trade volume. President Tinubu expressed hope, saying, “I highly appreciate Korean companies with excellent technology entering Nigeria and significantly contributing to economic development, and I look forward to expanding cooperation in economic, development, and technological fields between the two countries.” President Yoon invited President Tinubu to attend the Korea-Africa summit, scheduled to be held for the first time in Seoul next year.

President Yoon also held a summit with Azali Assoumani, President of Comoros, agreeing to expand cooperation in the blue economy and agricultural economy sectors. The blue economy refers to a marine economic growth strategy that emphasizes the sustainable use of marine resources. Additionally, taking advantage of the G20 summit, they discussed the formal accession of the African Union (AU) to the G20 and the practical development of Korea-Comoros relations.

President Yoon Suk-yeol is holding a Korea-Argentina summit with Argentine President Alberto Fern?ndez at the Bharat Mandapam International Convention Centre in New Delhi, India, on the 9th (local time).
[Image source=Yonhap News]

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