2010년 10월 11일 월요일

Lee urges G20 nations to agree on FX policies

President Lee Myung-bak said Monday that the Group of 20 major economies must agree on their foreign exchange policies by their meeting next month, as a failure on policy coordination could lead to big problems for the global economy. 

Lee said during a luncheon meeting with foreign correspondents at his residence that countries should put the interests of the global economy before their own national interests.

“Protectionism threatens the global economic recovery,” Lee told reporters.

The G20 countries are scheduled to discuss key agenda including reform offinancial regulations and the International Monetary Fund during a summit in Seoulbetween Nov. 11-12.

During a weekly meeting with his top aides earlier in the day, Lee called for stronger efforts to raise public awareness of the Seoul G20 Summit.

“Please do your best to help Koreans understand the substantial meaning and effect of the G20 Summit in Seoul,” Lee was quoted as saying by his spokesperson Kim Hee-jeong.

“The Seoul G20 Summit is not a one-time event, and it is necessary to acknowledge its significance in line with the previous summits in Toronto and Paris.”

Lee was briefed by his top aides Monday on the preparations for the G20 Summit such as security measures and public relations plans.

The National Police Agency plans to mobilize 50,000 police for security purposes during the two-day summit.

During the luncheon with the foreign press, Lee also said that North Korea has officially begun the process of succession from leader Kim Jong-il to his third son.

“It seems quite clear that North Korea has officially entered the third generation of Kim rule,” he told foreign correspondents.

North Korean leader Kim Jong-il’s youngest son and heir-apparent Jong-un recently made his public debut as he was appointed to key posts in the Workers’Party two weeks ago.

North Korean state broadcaster has shown rare live footage of Jong-un at the party convention and applauding with his father on Sunday during a militaryparade to celebrate the 65th founding anniversary of the Workers’ Party.

Lee said the South was watching the succession process “very closely.”

The South’s defense and unification ministers said last week the succession process seemed to have started, but Lee had not previously commented directly on the issue.

South Korea remains open to talking to North Korea if the communist nation shows sincerity, the president reiterated.

Kim Jong-il took over from his own father Kim Il-sung, who died in 1994.

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