[Full Text] Yoon: "Korea Supports Ukraine with $2.3 Billion... Leading Multilateral Development Banks and Digital Norms"

G20 Summit Speech on 'One Future'
Redefining MDBs' Mission and Vision to Meet Contemporary Challenges
Digital Advancement 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 actively assist Ukraine's reconstruction by preparing a mid- to long-term support package exceeding $2 billion."

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 and peace must be restored as soon as possible."

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.

Below is President Yoon's speech at the G20 Summit 'One Future' Theme Session 3

[Image source=Yonhap News]

Prime Minister Modi,

I deeply appreciate your efforts in hosting the G20 Summit.

This morning, I heard the news of the earthquake in Morocco. I extend my sincere condolences for the many casualties. The Republic of Korea will spare no effort in providing necessary support.

Distinguished leaders and representatives of international organizations,

The norm-based international order has been the foundation that has driven 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.

For a free, peaceful, and prosperous future, we must uphold and strengthen the norm-based international order based on the spirit of solidarity and cooperation.

While firmly defending universally valid norms, we must improve and supplement past norms to meet the changes of the times and create new norms necessary for the future.

First, universally valid principles and norms must be respected under all circumstances.

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, above all, the war in Ukraine must end and peace must be restored as soon as possible.

In July, I visited Kyiv and announced the 'Ukraine Peace Solidarity Initiative.'

Going forward, the Republic of Korea will continue to implement a comprehensive support program covering security, humanitarian aid, and reconstruction in solidarity with the international community.

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, and we will actively assist Ukraine's reconstruction by preparing a mid- to long-term support package exceeding $2 billion.

Secondly, institutions and norms established in the past must be improved and supplemented to meet the demands of the times. Multilateral development banks (MDBs) have played a catalytic role in poverty eradication and sustainable development, contributing to the common prosperity of humanity.

However, to address contemporary challenges such as overcoming the climate crisis, strengthening food and energy security, and achieving the Sustainable Development Goals (SDGs), the role of MDBs must be expanded.

Reform efforts to redefine the missions and visions of MDBs and to expand available resources must accelerate.

As the co-chair (Korea-France) of the G20 International Financial Architecture Working Group, the Republic of Korea will actively lead discussions to expand the financial capacity of MDBs and to restructure debt for low-income countries.

Finally, we must prepare new norms that open the future in line with scientific and technological advancements. 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.

We must newly establish digital norms to ensure fair access to digital technologies for global citizens and to expand their freedoms through digital technologies.

In June, I proposed the establishment of an international organization to enact digital order norms, including AI, at Sorbonne University in Paris.

Furthermore, the Republic of Korea will announce the 'Digital Bill of Rights' at the end of this month, declaring digital enjoyment rights as universal human rights.

We will present national-level standards and principles to address new issues in the digital era.

Now, the G20, leading the global digital economy, must demonstrate leadership in establishing new digital norms.

In this regard, I welcome the G20's agreement at this summit to cooperate in establishing international governance for AI.

The Republic of Korea, as a digital leader, will continue to lead international discussions to establish digital ethical principles and norms.

Thank you.

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