Side summit to bring business moguls to Korea

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Side summit to bring business moguls to Korea

Some of the most influential leaders in the global business community will gather in Korea on the eve of the G-20 Summit at a companion event called the G-20 Business Summit.

“The G-20 Business Summit is as meaningful as the G-20 Summit,” Knowledge Economy Minister Choi Kyung-hwan told reporters at a March event to celebrate the launch of the business summit organizing committee. “The world economy is stabilizing due to government-led emergency initiatives, but in order for it to achieve complete recovery and show sustainable growth, the private sector’s role is pivotal.”

The upcoming G-20 Business Summit in Seoul will take place over two days beginning Nov. 10. It is expected to take the form of briefings, roundtable discussions and possibly direct exchanges among CEOs and finance ministers from the G-20 countries.

The organizing committee of the G-20 Business Summit is slated to hold a press conference tomorrow in Seoul to announce details, including the list of CEOs expected to be present at the summit and the agenda for the meeting.

“Specifics will be disclosed at the press conference on Thursday,” Roh Hae-ryeong, a team leader of the organizing committee told the JoongAng Daily. “So far, things have gone as planned.”

Leading the business summit organizing committee are Choi; Sohn Kyung-shik, chairman of the Korea Chamber of Commerce and Industry; and Cho Suck-rai, chairman of Hyosung Group and former chairman of the Federation of Korean Industries.

The group has been working with the executive committee, which is led by Oh Young-ho, vice chairman of Korea International Trade Association. Together they will invite business leaders to the business summit, set the agenda and oversee the event.

At the recent G-20 Summit held in Toronto, Canada, in late June, President Lee Myung-bak expressed his support for the summit and said that some 100 CEOs would be invited to Seoul to discuss issues relevant to the private sector, including finance, trade, investment, green growth and corporate social responsibility.

A G-20 Business Summit was also held on the eve of the G-20 Summit in Canada. It was organized by the Canadian Council of Chief Executives to provide a discussion venue on economic recovery, financial sector reform, trade, development and innovation, among other topics.

By Kim Hyung-eun []

Korean students sing “Arirang” as part of a campaign to promote the G-20 Summit on a street in Myeong-dong on July 28.By Kang Jun-ku
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