The U.S. weekly magazine Newsweek recently ran a cover story on the President’s efforts to move Korea to the center of the world stage around the occasion of the G20 Seoul Summit.

The story, titled "Selling South Korea," which was published on Jan. 29 in the issue dated Feb. 8, said that the President wants to turn the end of the economic crisis into an opportunity, while also explaining that Korea had become the first OECD member to emerge from the global recession.

"His goal is to transform South Korea from a successful but self-involved economic power into a respected global soft power with the clout to mediate between rich and poor nations," said the weekly.

The magazine introduced the President''s endeavors to represent the voice of developing nations in particular. It said, "Lee is pushing to revive momentum on a global free-trade deal - stalled in large part due to hostility from poor nations - while defending the poor by pushing for more international supervision of the global financial system."

Newsweek outlined on the President''s plan to cut his country''s emissions by 30 percent by 2020 calling it "one of the most aggressive targets in the world." Korea is not obliged to cut the gases this much under Kyoto Protocol, it pointed out.
 

In reference to the President''s career as a former CEO, the magazine said he had run Hyundai (a Korean construction conglomerate) building huge bridges in Malaysia and selling cars with stunning success in the crowded U.S. market.

While mentioning that the President turned what had been a small contractor into a global manufacturing powerhouse (Hyundai), the magazine appreciated his leadership in business negotiations even as a head of state. "Lee helped South Korea beat out a French and a joint U.S-Japan consortium to win its biggest foreign contract ever," the magazine said, referring to the Korea-UAE nuclear power plant contract reached in December 2009.

Talking about Korea''s previous experience of overcoming the 1997-98 foreign exchange crisis and more skillful dealing with the latest crisis, the weekly said, "...unlike most other rich nations, South Korea had recent experience with a major financial meltdown. Many of its current leaders are veterans of the Asian crisis that crippled the country''s economy in 1998."

It went on to say, "Lee''s team immediately moved to save threatened banks and companies by setting up $200 billion in various funds to guarantee payment of their debts."

The team struck currency-swap deals with major economies to secure dwindling reserves of foreign currency and front-loaded public spending so that 65 percent of the country''s $250 billion budget was spent during the first half of 2009, the magazine explained.

The weekly also underscored the President''s ambition to enhance Korea''s contribution to the international community, in the areas of public health, education and peacekeeping operations.

It said that Lee is upping South Korea''s profile abroad, dispatching 3,000 volunteers from its version of the Peace Corps to Asia and Africa, and that the troops Korea committed to UN peacekeeping operations will be stationed in roughly 10 nations this year, including Lebanon and Pakistan.

For the full Newsweek story, click here.