12th ASEAN+3 Summit in Hua Hin, Thailand, on Oct. 24

The President on Saturday (Oct. 24) stressed close coordination between countries as the key to overcome the global financial crisis at the 12th ASEAN+3 summit meeting held in the Dusit Thani Hua Hin Hotel in Thailand. The leaders of Korea, China, Japan and 10 ASEAN nations gathered at the meeting to exchange opinions on a wide range of issues including the economic crisis, climate change and food and energy security.

President Lee, after explaining the results of the recent G20 Financial Summit back in Pittsburgh last September, underlined the importance of cooperation between countries. He further called for member nations to be more prompt in the early launch of multilateralization of Chiang Mai Initiatives (CMI) referring to a formation of a US$120 billion fund system to counter the financial crisis within the region.

The ASEAN side congratulated Korea for being the host nation of next year''s G20 Financial summit and wished for the success of the event. President Lee responded that he would actively take into consideration the views and situation of developing nations in ASEAN for the meeting.

President Lee then went on to express concern over food and energy security and reconfirmed Korea''s will to establish needful infrastructure in the ASEAN region to improve that particular matter. Adding that he expects to see the ASEAN Plus Three Emergency Rice Reserve to be realized at an early date, he explained that Korea has already decided on 150,000 tons of rice for the project. 

In order to pursue sustainable growth that overcomes the weakness of energy security, President Lee introduced Korea''s vision of low carbon, green growth and its efforts to extend investment and create jobs through the development and distribution of environment-friendly, renewable energy.

In further talks, Lee explained the Korean government''s efforts to realize co-prosperity in the region through cooperation in the field of information and communication technologies and plans to establish a science center for talented youth, among other things.

The leaders adopted a Presidential Statement and a statement on cooperation for food security and bio-energy cooperation.