Korean Bridge in G20

As the G20 Cannes Summit focuses on bailing out the Eurozone, super powers such as United States, Russia and China gathered all the attention. Among the rest of the G-20 members exist, overlooked yet relatively important, nations such as Korea, Mexico and Indonesia. Though relatively peaceful, these countries can play bigger roles in pushing the global system than their shares in media these days. South Korea, for example, is bridging the developed with the emerging and developing world.

As a heavily export-dependent economy, S. Korea is a beneficial of open market and free trade. It has one of Asia's largest economies, one that survived and thrived from 1997 Asia financial crisis and once again, weathered and resumed strong growth after a brief downturn as a result of the global economic downturn of 2008. In either of the situation, S. Korea was able to avoid deeper recession and move to growth is a result of actively involving in the global market. This experience of South Korea, along with similar ones by other medium-sized G20 countries, makes it an exemplary open markets and a firm supporter of free trade. On G-20 Cannes Summit, as a result, President Lee Myung-Bak promotes the idea of market liberalization in combating economic crisis from spread and stands against protectionism

When it comes to euro zone rescue plan, President Lee states that S. Korea has noticed readiness to help from neighbor countries Japan and China, in an interview with French media, he says "We ourselves are planning to see at the G20 summit how other countries will organize and what resources they will deploy. Discussions are planned. If it's necessary, obviously, (South) Korea is willing to cooperate."

South Korea's willingness to act as a bridge between the advanced, emerging, and developing worlds and its adoption of the "Seoul Development Consensus for Shared Growth." has indicated Koreans efforts in drawing a consensus on an array of agenda issues including development aid and free trade. The exemplary efforts have drawn proclamation by Microsoft co-founder Bill Gates in his developmental finance report to all G20 leaders.

Posted by Yinan Hu.