Good morning and welcome to Global Korea 2010 international conference.

Today, we are gathered here to discuss “Global Partnership in a Reshaping World.” We are presented with an opportunity to sit down and discuss how we are going to shape the post-crisis world, what Korea’s role is and what kind of future we must all strive for.

The session topics are apropos and timely. Following the opening plenary session, we will have a chance to discuss the post-crisis international economic order and how to build effective partnerships for development, among other topics. We will also share our thoughts on green partnerships. Today, I hope to share with you how Korea is prepared to work together with our partners around the world.

First, let me share with you my thoughts on the post-crisis international economic order.

All of you will remember vividly the unprecedented global economic and financial crisis that gripped us all throughout last year. Last year around this time when the Global Korea 2009 conference was being held, everyone around the world was fearful that we were about to enter into a long drawn out depression such as the one last seen in the 1930’s. Fortunately, this was not the case as we managed to bring about a semblance of stability and we are seeing gradual signs of recovery.

Such sooner than expected recovery is because unlike the 1930s, major developed and developing economies came together to undertake coordinated policy measures which was never seen in history. This is why the G20 is considered the premier forum.

Korea is the chair and host of this year’s G20 Summit. It is of course a heavy responsibility. Based on the spirit of global partnership, Korea will do its best to ensure a successful G20 Summit.
The valuable lessons that we learned through this crisis must not be wasted. We must use it as a guide to reform our financial sector and the first step is to review our basic philosophy.

The real economy and finance must be in balance. Without finance the real economy cannot function properly; likewise, a financial sector detached from the real economy is not a healthy one either. This, I believe, is one of the most important lessons or reminders of this crisis.

The global economy is displaying signs of gradual recovery due to international coordination of policies and the massive fiscal expenditures of governments. However, still we see little improvements in consumer spending and increase in private sector investments nor the increase in jobs that is desperately in need.

Korea is fully aware of the close correlation between jobs and education and so this is why we attach so much importance on job creation and education reform. We know it’s not just about creating jobs to fill numbers; it’s about fostering talent befitting the future needs of our nation. The government will do its best so that the future that our young generation dreams of and the vision that my country seeks can go forward together.

From a mid to long term perspective, fostering entrepreneurship is needed if we are to ensure sustainable and balanced growth, not just for Korea but for the global economy. Entrepreneurship is vital if we are to revitalize private investment and to lay the foundation for such sustainable growth. Such effort is the surest way to tap into our immense growth potentials. We mustn’t forget this. Entrepreneurship is the key to continued economic growth.

As you know, Korea is a member of the OECD. What’s more striking is that the first generation Koreans who were the vanguard of our phenomenal growth are still very much active in their respective fields. Therefore, Korea knows and understands the hardships that any developing country goes through. We also are fully aware what needs to be done.

I know that foreign aid is needed for economic development. Korea was one of those countries who received foreign aid during the early stages of its development. However, looking at the numerous countries that were also recipients for many decades of foreign aid yet who failed to achieve discernible progress only to be where they were decades ago demonstrates that aid alone is not enough to ensure development.

Foreign aid does not automatically lead to development. These two are not the same. For real progress to be attained, aid must be coupled with entrepreneurship and private investments. These will in turn lead to an economic development that is self-sustaining. If we wish to eradicate poverty, the best way is to ensure sustainable development. Korea is an example.

In just one generation, Korea went from a country receiving aid to one that provides aid to others. Korea is now ready to share our experiences and accrued know-how with others. In this light, the fact that Korea is chairing the G20 this year holds historical significance since we are the first non G-8 country to be given this task.

Already, Korea has begun many programs that will enhance the G20’s efforts to continue global economic development. One is the “Knowledge sharing program for economy and education” The reason behind such a program is because we know the important role education plays in allowing for rapid and sustainable growth.

Based on such convictions, Korea works together with developing countries as the latter works to develop their own economies. We invite and work together with those from these countries’ government and public institutions through various training and exchange programs.

And experts from our national policy institutes are providing policy recommendations and we intend to expand such programs into what we call the knowledge partnerships. Such partnerships will cultivate many expert consultants so that they can provide education and exchange in the private sector as well.

Closing the development gap between developed and developing countries are also needed to ensure sustainable development and I believe that the G20 must deal with this important issue. We also intend to actively reach out to those countries that are not members of the G20 as we take up the development agenda. For this, we will continue to gather the opinions of these countries through consultations with different regional organizations and UN organizations.

Again, I wish to reiterate that the G20 must pay special attention so that the benefits of a strong, sustainable and balanced growth of the global economy are felt in all countries, whether they are developed, developing or one of the least developed countries. Furthermore, we must emphasize the importance of closing the development gap and the need to share the fruits of prosperity for the sake of ensuring sustainable growth for all.

The third session today is going to be about global green growth partnership.

When we look around us, the earth is telling us that we must not waste anymore time responding to climate change. The signals are loud and clear and urgent. We really have no time to delay taking action. We can no longer wait until the other person acts. It is now about having a “Me First” attitude.

Korea voluntarily pledged that we will reduce our greenhouse gas emissions by 30% of BAU by 2020. At the end of last year, we passed a bipartisan bill on the Basic Law on Green Growth.

The first half of this year we will establish the Global Green Growth Institute. We have invited world-renown scholars and leaders to join our efforts so that nature and human beings can co-exist peacefully. This institute will be responsible for finding out how we can do this.

Planet earth is all that we’ve got. I ask that you share with the rest your ideas on how we can do this.

Distinguished guests,

A strong and prosperous nation is determined not by the size of its land or the wealth of its natural resources; it is whether countries adopt the right kinds of policies that make the real difference. We cannot idly remain in our caves because doing so is more comfortable and easy. If it is in the best interest of the country and the people, then we must boldly venture forth although the road ahead may be fraught with danger and uncertainty.

Our administration is determined to make the Republic of Korea a truly advanced country. Our aim is to revive the economy and make our society one that is more compassionate. Our goal is to help everyone live a better life and to help our people contribute to the common good of humankind. These commitments will always remain the same from the very first day to the very last.

“Global Korea” captures our resolve of becoming a true partner to the world. When we all dream the same dream, it will become a reality. When just one person dreams of something, then that will remain a dream. However, when many people share the same dream, that dream will become a reality. Korea will continue to strive to become a responsible member, a reliable partner and a true friend so that we can realize our dream together.

I hope that Global Korea 2010 conference will be an occasion for all of us to explore a future that is full of promise and hope for all. I hope it will help us realize the path towards a global partnership.

Thank you.