Headline, June 4, 2021

ICCK, Korea Nonferrous Metal Association signed MOU to strengthen cooperation

The Indian Chamber of Commerce in Korea (ICCK) joined hands with Korea Nonferrous Metal Association (KONMA) to support each other’s member companies and to explore markets for Nonferrous Metal Industry Companies.  Indian Chamber of Commerce in Korea (ICCK) signed a Memorandum of Understanding (MOU) with Korea Nonferrous Metal Association (KNMA) on Thursday, June 3rd 2021.

At this MOU ceremony, 60 people were presented including Mr. Sachin Satpute, Chairman of ICCK (President of Novelis Asia) and Mr. Lee Je Joong, Chairman of KONMA along with Mr. Park Jin-Kyu, vice minister of MOTIE.  The Korea Non-Ferrous Metals Association celebrates its anniversary on 3rd June of every year as ‘Nonferrous Metals Day’ and holds an event to share the importance of the non-ferrous metal industry and to share pride. Last year, the non-ferrous metal industry had exports of $11 billion, which was an increase of 0.4% despite the pandemic situation of COVID-19.

“The entire international community must unite to make effective decisions on green, sustainable development”

he following article is based on materials provided by the Embassy of the Republic of Uzbekistan in Seoul to The Korea Post media for publication. The Korea Post marks its 36th anniversary this year, owns and operates five media, 3 in English and 2 in the Korean language.--Ed.  On May 30, President Shavkat Mirziyoyev of Uzbekistan, at the invitation of President Moon Jae-in of Korea, took part in the Second International Summit “Partnership for Green Growth and Global Goals 2030” (P4G), in Seoul, via videoconference. President Shavkat Mirziyoyev of Uzbekistan speaks at the Second International Summit “Partnership for Green Growth and Global Goals 2030” (P4G) in Seoul via videoconference. The agenda of the two-day forum included issues of overcoming the consequences of climate change, green recovery and ensuring carbon neutrality, as well as the achievement of the UN Sustainable Development Goals and the implementation of the provisions of the Paris Climate Agreement. The event was attended by the heads of state and government, high-level representatives of the leading countries of the world, heads of authoritative international organizations.

Approaches of the Uzbek government to overcome barriers to socio-econoic development

The following are excerpts from an article by Abdunarzarova N. of the Republic of Uzbekistan which was contributed to The Korea Post media by the Embassy of Uzbekistan in Seoul. The Korea Post is 36 years old this year, and owns and operates 3 English and 2 Korean-language news publications.--Ed. Today, domestic and foreign experts agree that the large-scale structural reforms undertaken in the Republic of Uzbekistan have mitigated the negative socio-economic consequences of the global coronavirus pandemic. It has been noted that the government's decisive response allowed Uzbekistan to demonstrate positive economic growth of 1.6%. Source: CIS Statistical Committee Figure 1 shows that Uzbekistan experienced positive GDP growth rates during the pandemic compared to Central Asia and Russia as a whole.

Biden Lays out Plan to Share First 25 Mln Vaccine Doses with World

U.S. President Joe Biden has unveiled a plan to distribute 25 million doses of COVID-19 vaccines to other countries in need, including South Korea. The U.S. earlier pledged to provide up to 80 million vaccine doses internationally by the end of June. In a statement on Thursday, Biden provided more details on how it plans to allocate the first 25 million of those vaccines to lay the groundwork for increased global coverage and address real and potential surges and the needs of the most vulnerable countries. Biden said that at least 75 percent of these doses - nearly 19 million - will be shared through COVAX, including about six million doses for Latin America and the Caribbean, seven million for South and Southeast Asia, and five million for Africa. He said the remaining doses, just over six million, will be shared directly with countries experiencing surges, those in crisis and other partners and neighbors, including Canada, Mexico, India and South Korea. The U.S. agreed to provide about one million doses of the Johnson & Johnson vaccine to South Korea after Biden's summit with South Korean President Moon Jae-in last month.

Pres. Moon Meets with 1st-term DP Lawmakers

President Moon Jae-in met with freshman lawmakers of the ruling Democratic Party(DP) for the first time since last year’s April general elections on Thursday. According to presidential spokesperson Park Kyung-mee, he told the lawmakers that support is created when internal unity is promoted and boundaries are expanded. Moon added that the DP is a dynamic and future-oriented party that has innovative DNA. Moon apparently made the remarks amid fears that solidarity within the ruling camp, including relations between the government and DP, could weaken as the end of his term draws near. Also during the meeting, Moon said the government will do its best until its last day to overcome crises, achieve economic recovery and secure opportunities to make leaps. Of the 81 first-term DP lawmakers, 68 attended the gathering at the presidential office.

Ex-Minister Cho: Step on Me and March Forward

Former Justice Minister Cho Kuk has called on the ruling Democratic Party(DP) to move beyond the corruption allegations surrounding him and continue the ruling bloc’s reform drives. Cho made the remark in a Facebook post on Wednesday. Sharing an excerpt from DP Chairman Song Young-gil's public apology earlier in the day, Cho said he humbly accepts the chief’s words. He said the ruling party should forget him and devote itself to reforms in areas including real estate, public livelihoods, prosecution and the media. The DP chief’s move came amid concerns by some ruling party members over possible negative pushback to Cho’s memoir, which hit bookshelves earlier in the week. Meanwhile, the disgraced ex-minister also shared Song’s words that the prosecution must apply the same standards used for his family when investigating alleged corruption surrounding the family of former Prosecutor General Yoon Seok-youl.

New cases in 600s for 2nd day amid vaccination campaign

South Korea's daily new coronavirus cases stayed in the 600s for the second consecutive day Thursday due to continued cluster infections, while the country's inoculation drive gains pace on a smooth vaccine supply. The country reported 681 more COVID-19 cases, including 672 local infections, raising the total caseload to 142,157, the Korea Disease Control and Prevention Agency (KDCA) said. Daily infections remained in the 400s for the past three days partly due to fewer tests over the weekend. There were three additional deaths, raising the total to 1,968. As of 6 p.m., 578 new infections, including 182 in Seoul and 195 in Gyeonggi Province, were found nationwide, down three from the same time a day earlier, the KDCA said. Health authorities expect new cases to be around 700 on Friday following an entertainment facility-related cluster infection in the southeastern city of Daegu.

British PM expects S. Korea to play a role in G-7 summit next week: Cheong Wa Dae

British Prime Minister Boris Johnson on Thursday welcomed South Korea's commitment to playing a role in an upcoming summit of global leaders on COVID-19, climate change and other pending issues, Cheong Wa Dae said. He delivered the message to President Moon Jae-in during their half-hour phone conversation, according to Moon's spokesperson Park Kyung-mee. Johnson is scheduled to host the Group of Seven (G-7) summit in Carbis Bay, Cornwall, on June 11-13. Taking part will be the leaders of other G-7 members states: the United States, Canada, France, Germany, Italy and Japan. Moon has been invited to the session as a guest. Speaking to Johnson, Moon said South Korea would participate actively in the G-7's discussions on efforts to resolve such issues as the pandemic, economic recovery and climate, Park said.

Military to raise troops' daily meal cost next month

The military will raise the average daily meal cost for service members by 14 percent to 10,000 won (US$9) next month, the defense ministry said Thursday, amid criticism soldiers, especially those under coronavirus quarantine, are poorly fed. The decision was announced as the government launched an interagency task force to come up with measures to improve troops' living conditions following a series of complaints over inconveniences. The quality of military meals, in particular, gained attention after active-duty soldiers uploaded photos of their meals on a Facebook page that serves as an anonymous bulletin board for troops, leading to Defense Minister Suh Wook's apology. The ministry had originally planned to raise the daily meal cost next year, but the push has been advanced "under close coordination with the financial authorities," the ministry said.

Moon presses military over botched sex crime probe

President Moon Jae-in on Thursday ordered an exhaustive probe into allegations surrounding the suicide of an Air Force master sergeant. The order comes amid public outrage, which prompted the military to expand its waylaid investigation of sex crime allegations made by the deceased. “It truly hurts me to look at the victim, how devastated she must have felt. We need a thorough inquiry into every event leading up to her death, and after that. We have to see to what should have been done in the first place,” Moon said in a statement. The sergeant, who claimed she had been sexually assaulted by a fellow master sergeant who was senior to her, was found dead on May 22, months after she first brought the matter to military attention on March 2.

German direct selling for readies Asia foray --- from Korea

Germany’s leading multi-level marketing and direct sales firm LR Health & Beauty is building its business presence here, in hopes of expanding beyond Korea into the Asia region, its chief executive said. “It is great to see how LR has developed over the last few years. We have reached decisive milestones,” Andreas Friesch, who has led the company since 2018, said in an interview with The Korea Herald. “The expansion to South Korea is one of them,” he added. Last November, the company -- which sells cosmetics, skin care products, perfumes and functional foods in 28 countries -- opened an office in Gangnam, southern Seoul, which serve as its regional headquarters. According to Friesch, the company is currently concentrating on recruiting new distribution partners and developing “a strong LR community” here. According to Friesch, South Korea is a perfect fit for LR‘s business model, products and incentives and the country could become one of its top markets in the coming years. “South Korea is our gateway to Asia and will play a key role in LR’s future expansion success. In a further step, we will examine what other opportunities might be there for us in Asia.”

Seoul apartment prices near peak, finance minister says

Apartment prices in Seoul have risen to the levels where they were before the global financial crisis of 2008, which prompted a severe market correction, Finance Minister Hong Nam-ki said Thursday. “I have a serious concern about one-sided anticipation that the housing market will become unstable again in the second half of this year because of new regulations that will come into effect from June,” the minister said during a policy meeting. Along with the government’s housing supply expansion plan, homebuyers should be aware of both internal and external factors before making their bets. Inflation-adjusted prices of apartments in Seoul are nearly on a par with those seen before prices crashed in the midst of the 2008 global financial crisis, the minister said. According to data from KB Kookmin Bank’s real estate information platform Live Real Estate, the average sale price of a small to medium-sized apartment in Seoul stood at 995.8 million won ($895,020) as of May, up 43.3 percent from 308 million won two years earlier.

Koreans signing up for COVID-19 vaccines

Park Young-gle, an office worker living in Seongnam, just south of Seoul, had lingering concerns about getting a COVID-19 vaccine when a call arrived from a local clinic saying she was next up in line for a leftover shot. "Reports and rumors about blood clots related to younger people still bothered me, but I figured that the benefit of getting vaccinated is greater than the risk of that going wrong," the 31-year-old said. People aged over 30 in South Korea, like Park, can apply for leftover vaccines from "no-show" appointments. Fortunately, Park had no post-vaccination symptoms. "I just wanted to be able to get my old life back, even if it means getting back a small part of it," Park said. South Korea began its nationwide inoculation on Feb. 26, starting off with essential personnel, like police officers and medical staff members. Contrary to health authorities' expectations for high turnouts, there was a great deal of hesitancy about getting the shots, largely driven by safety concerns over AstraZeneca (AZ) jabs ― the bulk of which the country has procured for its 51.3 million citizens.

Presidential pardon or parole for Samsung chief?

With President Moon Jae-in hinting that he could be considering releasing imprisoned Samsung leader Lee Jae-yong, attention is being drawn as to whether Lee will receive a special pardon or be paroled. President Moon had a luncheon meeting with leaders of the country's top-four conglomerates at Cheong Wa Dae, Wednesday, in recognition of their efforts that made his visit to the United States ― and summit with U.S. President Joe Biden ― a success. While the chairmen of SK, Hyundai Motor and LG attended the meeting, Samsung Electronics Vice Chairman Kim Ki-nam was there in lieu of the Samsung leader who is serving a two-and-a-half year prison term after being found guilty of bribery in a corruption trial involving impeached and jailed former President Park Geun-hye. During the meeting, SK Group Chairman Chey Tae-won indirectly referred to the Samsung leader, asking President Moon to "please consider what the heads of five business organizations have said," according to Cheong Wa Dae officials. Samsung Electronics Vice Chairman Kim Ki-nam also stressed the need for Lee to return to the semiconductor giant, saying, "It is important in the semiconductor business to make decisions on large scale investments and these decisions can only be made rapidly with a leader."

Talk of another round of disaster relief payouts sparks concerns

A debate is heating up among politicians on whether to provide another round of disaster relief payouts to all households in the country, amid lingering concerns that the move will end up worsening the soaring national debt burden. The government and the ruling party have brought up the idea of offering a fifth round of COVID-19 relief payouts, citing the need to revitalize the sagging real economy. But some economists view the move as "unnecessary" amid clear signs of an economic recovery for the rest of 2021. The central bank recently revised up Korea's 2021 GDP growth forecast to 4 percent on strong signs of an exports rebound and smooth progress in vaccinations. The prediction, if realized, is a noteworthy rebound given that the economy contracted 1 percent in 2020 in the aftermath of the pandemic-induced social distancing and global economic doldrums. Even if the economy may be on track for a solid rebound, setting up another expansionary budget for the fund is undesirable, as this will further worsen the sovereign debt level, they said. They argued that selective support for some groups that are highly vulnerable to the virus would be more effective at this period of economic rebound.

U.S. Wants Higher-Profile Summit with Korea and Japan

The leaders of the U.S., Korea and Japan may not be meeting on the sidelines of the G7 summit in London this month after all but in Washington. "U.S. President Joe Biden hopes to hold the trilateral summit in Washington as soon as possible," a diplomatic source said Wednesday. "The message has been delivered to Seoul and Tokyo, where diplomats are fine-tuning options." It appears Washington wants to make the meeting more visible than it would be on the sidelines of the G7 summit in order to impress China with a show of unity. The U.S. is keen to achieve a rapprochement between Korea and Japan to present a united front in its new cold war against China. A series of trilateral meetings of national security advisers, military chiefs, foreign ministers and spy chiefs were also held at Washington's initiative.

Moon Hints at Pardon for Samsung Chief

President Moon Jae-in on Wednesday hinted that he is more inclined than before to pardon Samsung chief Lee Jae-yong, who is in jail for bribing his predecessor Park Geun-hye. Asked by the heads of Korea's top conglomerates whether a pardon for Lee is an option, Moon said he understands their "concerns" and that "many Koreans" support a pardon. That sounds markedly more positive than the cagy position he took only a month ago, when he said, "I will listen to the views of the public and make a decision." Business insiders now expect Lee to benefit from a special pardon on Aug. 15, which is Korea's Liberation Day. Moon had invited for lunch at Cheong Wa Dae the heads of the country's top four business conglomerates -- SK chairman Chey Tae-won, Hyundai chairman Chung Eui-sun, LG chairman Koo Kwang-mo and Samsung vice chairman Kim Ki-nam.

Lockdown Drives Small Business Owners Deeper into Debt

Small business owners are getting deeper into debt to ride out the coronavirus pandemic even as Korea posts record exports and consumption is picking up. According to the Bank of Korea on Wednesday, corporate loans from banks increased by W42.1 trillion during the first quarter of this year to W1,436 trillion (US$1=W1,114). The sharpest increase in debt was among small business owners, rising by W31.1 trillion from the previous quarter to account for 74 percent of total loans and the biggest increase in debt since lockdown was tightened in the second quarter of last year. Song Jae-chang at the Bank of Korea, said, "As coronavirus infections increased, offline stores were hit especially hard and their debts increased." Loans taken out by people in the real estate, finance and insurance industries increased at the same rate as the fourth quarter of 2020, but there was a sharp increase among retailers and wholesalers from W5.3 trillion to 7.5 trillion and hospitality entrepreneurs from W2.3 trillion to W3 trillion.

US appointment of special envoy to N. Korea signals readiness for dialogue, US deputy secretary of state says

US Deputy Secretary of State Wendy Sherman said that the appointment of Sung Kim as the US’ special representative for North Korea signaled the US’s readiness for dialogue with the North. Sherman also expressed her hope that the North would “take us up on that.” Sherman made the remarks in a teleconference on Wednesday with reporters from the Asia-Pacific region during a visit to Bangkok, Thailand, on the final leg of a tour of Southeast Asia. She was responding to a reporter who’d asked if the US had contacted North Korea to explain the results of its North Korea policy review. Sherman said the Biden administration had reviewed its North Korea policy through very close deliberations with South Korea, Japan, and global partners and said that the US wanted to engage with the North. She explained that the US would take calibrated action in order to achieve progress toward the ultimate goal of the denuclearization of the Korean Peninsula. Sherman noted that Biden had appointed Sung Kim, who also serves as the US’ ambassador to Indonesia, as special representative for North Korea during South Korean President Moon Jae-in’s visit to Washington on May 21.

Discussion between Moon, business leaders on pardoning Lee Jae-yong is worrying

South Korean President Moon Jae-in had a luncheon at the Blue House on Wednesday with representatives of South Korea’s four main business groups: Samsung, Hyundai Motor, SK and LG. It was the first time he had met for a roundtable with those groups. With the current feud between the US and China and other rapid changes to the global economic environment, we are at a moment that urgently calls for close cooperation between the government and business. It is a positive thing when the president and businesspeople candidly share their views on the economic realities we confront. But the representatives of the four groups acted inappropriately when they used the meeting as an occasion for proposing a pardon for Samsung Electronics Vice Chairman Lee Jae-yong. Even if we grant that businesses play a more important role now than ever before, the idea of equality before the law is a basic principle of democracy and the rule of law that must be upheld. Moon said that “excellent results were achieved at [last month’s] South Korea-US summit thanks to the support of the four groups during my visit to the US.”

N. Korea creates “first secretary” role under Kim Jong-un, seemingly mindful of succession plan

In an amendment of its Workers’ Party of Korea (WPK) rules at a party Congress in January, North Korea created the position of a “first secretary,” it has been confirmed. It’s a move that could be interpreted as meant to groom a potential successor to Kim Jong-un. In an examination of the amended WPK rules Tuesday, the Hankyoreh confirmed that it included a new sentence that had not appeared in past rules. “The first secretary of the party Central Committee is the representative of the Workers’ Party of Korea General Secretary,” it reads. The new party rules, which were revised and adopted on the first day of the Eighth WPK Congress on Jan. 9, included the new rule in its Article 26 concerning the party’s Central Committee. In addition to the rule about a “representative for the General Secretary,” the article also states that the “party Central Committee shall elect the party Central Committee first secretary and other secretaries.”

Governor Lee welcomes Yoon’s debut into politics

“The sooner the better.” One of the closest aides to Gyeonggi Governor Lee Jae-myeong said at a phone interview with The Dong-A Ilbo on Thursday, referring to former Prosecutor General Yoon Seok-yeol’s impending foray into politics. It is interpreted that the Lee Jae-myeong camp is welcoming Yoon’s full-blown debut as politician since it will likely lead to forming a one-on-one contest between the two, boosting Lee’s chances of winning the candidacy within the ruling party. It is reported that some of the pro-Lee Jae-myeong lawmakers had a meeting to have a discussion on how they will respond once Mr. Yoon joins the main opposition People Power Party as he certainly appears to in the near future. The latest polls are suggesting a neck-and-neck race between Yoon and Lee. “Yoon’s emergence as the main candidate is almost inevitable, so the focus of discussion is who will be able to get the better of him,” said a lawmaker of influence.

10,000 volunteers of Tokyo Olympics quit

The volunteers and medical officers of the Tokyo Olympics, which is scheduled to start on July 23, are resigning from their commitments. More than half of the members of the Tokyo Metropolitan Assembly are opposing the Olympics’ start in July. According to the NHK and Tokyo Shimbun on Thursday, Tokyo Olympic Organizing Committee CEO Toshiro Muto announced that about 10,000 volunteers have quit as of Wednesday. Eighty-thousand volunteers were scheduled to help the Olympics in stadiums and an Olympic village, but now it is down to 70,000. “Worries about COVID-19 is definitely one of the reasons,” said Moto on why volunteers have quit. About 1,000 people have quit as of February 23, and the number began to soar from the end of March when COVID-19 variants started to spread.

South Korea to repair pedestrian bridge in Panmunjom

South Korea will begin the repair of a bridge in Panmunjom, where President Moon Jae-in and North Korean leader Kim Jong Un had a behind-the-scenes conversation during the inter-Korean summit on April 27, 2018. According to the Ministry of Unification on Wednesday, it has selected a service provider for the geological survey on the area late last month after discussing its plans to repair some sections of the pedestrian bridge with the United Nations (UN) Command. The repair of the bridge will begin within this month after the geological survey is completed. “A safety investigation of the area is necessary as the sections of the bridge, which need to be repaired, are built over a wetland,” said an official from the Unification Ministry. The ground surface, on which the extended part of the bridge is built, reportedly sank last year. The consultation with the UN Command began in November last year, but the repair work has been delayed by six months as it was thought to be safe to start the construction after spring.

South Korea to Receive 1 Million Doses of the Janssen Vaccine Provided by the U.S.

One million doses (for one million people) of the Janssen vaccine given by the United States government will arrive in South Korea this week. This is nearly twice as many doses (550,000) initially promised at the bilateral summit, and the South Korean government plans to administer the vaccines to members of the reserve forces and civil defense aged 30 and older on a first-come, first-served basis. In a press briefing at the government office in Seoul on May 30, Jung Eun-kyeong, head of the COVID-19 vaccination response team (chief of the Korea Disease Control and Prevention Agency) said, “The U.S. administration promised to give us 1,012,800 doses of the Janssen vaccine in close working-level discussions between the two governments following the bilateral summit.” She further said, “For swift inoculation, we will send our military aircraft to the U.S. in early June and bring the vaccines to our country.” Thanks to the Janssen vaccines from the U.S. administration, South Korea has now secured vaccines for a total of 100 million people.

President Moon Hands a Letter of Appointment to Kim Oh-soo and Asks Him to “Play a Big Role in Creating a Fair Prosecution Service”

On June 1, President Moon Jae-in said to the newly appointed prosecutor general, Kim Oh-soo, “I ask that you lead the prosecutors, so they can be proud of being voluntary executors of reforms aiding such changes to take root in the Prosecution Service, including the newly adjusted authority over investigations between the police and prosecutors.” This day, President Moon handed Kim a letter of appointment at Cheongwadae and in the private meeting that followed, the president said, “I trust that you will play a big role in helping the Prosecution Service become a just agency that can meet the expectations of the people,” according to a written briefing by Cheongwadae spokesperson Park Kyung-mee. Kim will actually be the last prosecutor general appointed by the incumbent government, so the president appears to have requested Kim’s support in helping the institutional reforms that the government had promoted in the last four years to take root in the Prosecution Service. In particular, the president’s mention of a just Prosecution Service drew attention for it came at a time when politicians are fiercely debating over a memoir published by the former justice minister Cho Kuk, which includes the prosecutors’ investigation.

Japan North Korea Nuclear.

Governors, from left, Masanao Ozaki of Kochi, Tokihiro Nakamura of Ehime, Hidehiko Yuzaki of Hiroshima and Zenbe Mizoguchi of Shimane bow after handing over their request form on possible North Korea's missile launch to Japanese Prime Minister Shinzo Abe at the prime minister's official residence in Tokyo Monday, Aug. 14, 2017. Japan's Defense Ministry deployed the PAC-3 surface-to-air interceptors at the four locations. The deployment is largely aimed at responding to the risk of falling fragments while missiles fly over the region. (Toshifumi/Kitamura/Pool Photo via AP)

Samsung Elec shares higher on presidential hint of review on chief release

Shares of Samsung Electronics have opened Thursday stronger upon anticipation of its chief Jay Y. Lee coming out of the prison possibly within months after President Moon Jae-in expressed most positive response to the business petitioning for earlier release of the commander of the world’s leading chipmaker amidst intensifying global chip competition. Samsung Electronics shares closed Thursday 2.48 percent higher at 82,800 won ($74.33) and Samsung C&T up 0.35 percent at 142,000 won. Moon had invited heads of Korea’s four major conglomerates – SK, Hyundai, LG and Samsung – to the Blue House on Wednesday for the first time since taking office four years ago to thank them for their contribution to the White House summit with President Joe Biden in late May with their pledge of near $40 billion U.S. investment in chip, battery, and electric vehicle sector.

S. Korea unveils homegrown space rocket for first time

South Korea unveiled Tuesday a fully assembled model of its homegrown space rocket for the first time since the country began its development in 2010. The real-life qualification model (QM) of the space launch vehicle named Nuri was transported and erected on its launch pad at the Naro Space Center in Goheung, 294 miles south of Seoul, for testing for one month, the Ministry of Science and ICT announced on Tuesday. The procedure will test rocket fueling and an interface with the launch pad, which was also developed with local technology. This is the last testing procedure before the official launch of an actual rocket in October this year.

Seoul to bid to host UN climate change conference in 2023 to strengthen green identity

The South Korean government will bid to host the United Nations Climate Change Conference of the Parties (COP28) in 2023 to strengthen its green identity. President Moon Jae-in introduced his vision to contribute to the world’s climate change mitigation efforts during the 2021 P4G Seoul Summit held on Sunday and Monday as Korea is serving as a leading nation for climate action. At the summit, Moon unveiled the country’s plan to host COP28 in 2023. A ranking official from the Blue House said that the country is seeking to host COP28 in 2023 to “accelerate transition to low-carbon green economy to deliver on the U.N. Sustainable Development Goals (SDGs) and achieve carbon neutrality by 2050, as well as reinforce Korea’s stance as a leader of climate change action.”

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