G20 Symposium to Discuss `World Economic Control Tower`

The G20 Seoul International Symposium is the first international forum seeking to define the status of the Group of 20 summit and future tasks ahead of the November summit in Seoul.

The symposium is also one of several events marking the 90th anniversary of The Dong-A Ilbo.

The forum is expected to draw substantial interest from G20 member countries, having held consultations with the Korean government’s preparatory committee for the summit. The forum will be held jointly with the Brookings Institution, a U.S. nonprofit organization for public policy.

The event will hold intensive discussions on the theoretical grounds and practical tasks for the institutionalization of the G20 summit as a “premier forum for international economic cooperation” and one to replace the G8 summit.

Hyeon Oh-seok, president of the state-funded Korea Development Institute, said, “The G20 summit was launched in the wake of the global financial crisis that originated in the U.S., but its legitimacy, effectiveness and international roles have yet to be established. This symposium to take place before the G20 Seoul summit plans to draw an outline.”

The symposium’s major agenda also includes how the G20 meetings can resolve issues developing countries face in the process of economic development. The agenda reflects the fact that Korea, which once received international aid, has grown rapidly as a major emerging economy and a donor of aid.

In the process, Korea is expected to get the opportunity to let the world learn about its concrete experience in economic growth and know-how.

The symposium will invite some 400 guests, including world renowned scholars and senior officials from international organizations and governments of major economies.

The Brookings Institution will send its President and former U.S. Deputy Secretary of State Strobe Talbott, and former World Bank Vice President for Europe and Central Asia Johannes Linn will also participate in the forum. Others expected to attend are Sir Michael Jay, former personal representative (sherpa) to the British prime minister on preparation for the G8 summit, and Thomas A. Bernes, vice president of programs at the Centre for International Governance Innovation.

turtle@donga.com