South Korea's G20 Vision: How Lee's 2028 Summit Aims to Reshape Global Economy

Lee pledged during the summit's third session in Johannesburg, South Africa, as South Korea was confirmed to assume the presidency following the United States in 2026 and Britain in 2027.

"With a profound sense of responsibility, we will do our utmost to ensure that the G20 further consolidates its role as the premier forum for international economic cooperation," he said, Yonhap News Agency reported.

Hosting the G20 summit in 2028 would mark another major multilateral achievement during Lee's five-year term, which ends in 2030, following South Korea's chairmanship of the UN Security Council and the Asia-Pacific Economic Cooperation (APEC) summit earlier this year.

During the session, held under the theme "A Fair and Just Future for All," Lee underlined the need to build a stable and mutually beneficial supply chain for critical minerals, amid uncertainty stemming from escalating trade tensions between the U.S. and China over rare earth minerals.

"We must establish a stable and mutually beneficial supply chain for critical minerals, where mineral-rich and mineral-importing countries share the benefits," he said.

He welcomed the G20's adoption of the Critical Minerals Framework and highlighted Seoul's role as chair of the Minerals Security Partnership as well as its launch of the Korea-Africa Critical Minerals Cooperation Initiative to facilitate international coordination.

"The Republic of Korea will continue to support international efforts to build mutually beneficial and resilient supply chains," he said, referring to South Korea's official name.

On artificial intelligence (AI), Lee called for global frameworks that ensure broader and more equitable access to AI technologies.

"The advancement of AI must provide fair opportunities for all nations and all peoples," he said, pledging to work with the international community to advance South Korea's vision for inclusive AI.

Lee said South Korea, as this year's chair of APEC, led efforts to adopt an AI initiative and pledged to promote its impact beyond the Asia-Pacific to across the globe.

He also introduced cooperation programs aimed at strengthening the digital capabilities of women and youth across Africa.

The presidential office said Lee's attendance at the G20 broadened the scope of his "pragmatic" diplomacy centred on national interests into the Global South, a term broadly referring to developing economies located in Africa, Latin America and the Caribbean.

During the first two sessions on Saturday, Lee pledged South Korea's active role in promoting inclusive economic growth, revitalising the World Trade Organization and addressing climate change and the global food crisis.

"Considering this year's gathering marks the first G20 summit held in Africa, President Lee demonstrated his commitment to solidarity and cooperation with Africa," third deputy national security adviser Oh Hyun-joo said in a briefing in Johannesburg. "He also stressed the need to revive the World Trade Organization's multilateral trade system."

Later in the day, Lee will meet Korean residents in South Africa. He will then depart for Turkey, the final stop on his four-nation Middle East and Africa tour, which included visits to the United Arab Emirates and Egypt.

In Ankara, Lee is scheduled to hold summit talks with Turkish President Recep Tayyip Erdogan, with discussions on the defence and nuclear energy industries expected to take place.

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- IANS