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I do not doubt that the newfound status of the G20 as the premier forum for international economic cooperation owes much to its proven accomplishments to date. It was thanks to such bold action that the world economy pulled out from its free fall and managed to enter a period of stabilization. The initial resolve shown in the first G20 Summit in Washington in November 2008 was followed up with swift and bold coordinated policy responses in successive summits in London and Pittsburgh. I believe that much of the credit for the better than expected outcome for the world economy should be given to the unprecedented level of policy cooperation among the advanced and emerging countries of the G20. The world economy has gone through a period of stabilization and is now showing some tentative signs of recovery. Fortunately, the picture now is somewhat brighter than those worst predictions. This time last year, you may recall that there was much pessimistic commentary on the possibility of an economic slump that would push the world into another Great Depression. We have just been through a very difficult time for the world economy. Together with other summit colleagues in the G20, I will work on support and long-term reconstruction. I am grateful to Professor Schwab and the organizers for giving me an opportunity to share my thoughts on the forthcoming G20 Summit to be held in Seoul in November of this year.īefore starting on the main address, I would like to convey the heart-felt sympathies of all Koreans to the victims and survivors of the recent earthquake in Haiti.Īs an immediate measure, the Korean government is actively engaged in the flow of relief in concert with non-government bodies. It is a great privilege to address such a distinguished audience of world leaders at the World Economic Forum.

28 (Yonhap) - The following is the full text of South Korean President Lee Myung-bak's special address delivered at the Davos Forum in Switzerland Thursday with the title "Seoul G-20 Summit: Priorities and Challenges."