Yoon: "Korea Provides $2.3 Billion to Ukraine... Leading Multilateral Development Banks and Digital Norms"

G20 Summit Speech on 'One Future'
Redefining MDBs' Mission and Vision to Meet Contemporary Challenges
Digital Development Threatens Global Citizens with Crime and Fake News

President Yoon Suk-yeol stated on the 10th, "Next year, we plan to provide an additional $300 million in support, including humanitarian aid, grant-based development cooperation, and assistance through international financial institutions. We will also prepare a mid- to long-term support package exceeding $2 billion to actively help Ukraine's reconstruction." This reflects the intention to stand in solidarity as a global pivotal country in upholding a rules-based international order characterized by freedom, peace, and prosperity. He also pledged to take a leading role in reconsidering the role of multilateral development banks (MDBs) in responding to the climate crisis and in establishing norms in line with scientific and technological advancements.

On the same day, at the third session of the G20 Summit held in New Delhi, India, under the theme "One Future," President Yoon said, "Since World War II, the international community has firmly established the prohibition of the use of force as a fundamental legal principle. To uphold this principle, the war in Ukraine must end promptly, and peace must be restored."

President Yoon first evaluated, "The rules-based international order has been the foundation driving humanity's peace and prosperity since World War II. The international community has promoted global peace and economic growth through the United Nations and multilateral trade norms. However, we are currently facing unprecedented complex crises and challenges such as the pandemic, geopolitical conflicts, climate change, and the war in Ukraine."

He continued, "For a free, peaceful, and prosperous future, we must protect and strengthen the rules-based international order based on the spirit of solidarity and cooperation. While firmly safeguarding universally valid norms, we must improve and supplement past norms to fit the changes of the times and create new norms necessary for the future," urging action.

[Image source=Yonhap News]

President Yoon referred to the Ukraine Peace Solidarity Initiative he announced after holding a summit with Ukrainian President Volodymyr Zelenskyy during his visit to Ukraine in July, stating, "Going forward, the Republic of Korea will continue to implement a comprehensive support program covering security, humanitarian, and reconstruction sectors in solidarity with the international community." The Ukraine Peace Solidarity Initiative centers on ▲security support ▲humanitarian aid ▲reconstruction assistance. Security support includes the successful hosting of the 'Peace Formula Summit' and promises of additional military supplies such as bulletproof vests and helmets. In humanitarian aid, following approximately $100 million in aid last year, $150 million in support is pledged for this year.

He also pointed out that reform efforts to redefine the missions and visions of MDBs and expand available resources must accelerate. The intention is to expand finances and missions so that MDBs can address contemporary challenges such as overcoming the climate crisis, strengthening food and energy security, and achieving the Sustainable Development Goals (SDGs). President Yoon explained, "As co-chair of the G20 International Financial Architecture Working Group (Korea-France), the Republic of Korea will actively lead discussions to expand the financial capacity of multilateral development banks and to restructure debt for low-income countries."

Furthermore, he urged the preparation of new norms in line with scientific and technological advancements such as artificial intelligence (AI) and data, announcing plans to release a Digital Bill of Rights by the end of this month. President Yoon introduced the background, saying, "We are now in an era of deepening digitalization. The development of digital technologies represented by AI and data has enriched human life and eliminated constraints of time and space. However, at the same time, digital divides, cybercrime, and fake news threaten the freedom of global citizens."

He added, "We must newly establish digital norms to ensure fair access to digital technologies for global citizens and to expand their freedoms through digital technologies." When he visited Paris in June to attend the Bureau International des Expositions (BIE), he proposed the establishment of an international organization to formulate digital order norms, including AI, at Sorbonne University in Paris. Regarding the Digital Bill of Rights, he stated, "We will declare digital enjoyment rights as universal human rights" and "We will present national-level standards and principles to resolve new issues in the digital era."

President Yoon emphasized, "Now, the G20, which leads the global digital economy, must demonstrate leadership in establishing new digital norms," and welcomed the agreement at this summit for cooperation to establish international governance on AI. He stressed, "As a digital leader, the Republic of Korea will continue to lead international discussions to establish digital ethics principles and norms."

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