October 2023

The world¡¯s 20 biggest economies gathered in India to devise a plan to achieve the goal of ¡°One Earth, One Family, and One Future.¡± It was the theme for this year¡¯s G20 Summit derived from the ancient Hindu scripture Maha Upanishad. The phrase means ¡°The world is one family,¡± emphasizing the significance of global unity to address challenges together.

Action for Climate, Peace

The G20 leaders In New Delhi reached key deals, particularly on climate and war. The 20 major economies―which emit almost 80% of all planet-warming gases―agreed to triple renewable energy capacity globally by 2030 and try to increase the funds for climate change-related disasters. The leaders also called for a ¡°comprehensive, just and durable peace in Ukraine,¡± while agreeing that the use or threat of use of nuclear weapons is ¡°inadmissible.¡±

Korea, too, demonstrated its greater ambition of reducing greenhouse gas emissions and supporting collective action for peace in Ukraine. For climate action, Yoon pledged an additional USD 300 million to the UN Green Climate Fund (GCF). Korea will play the role of a ¡°green ladder¡± to support countries vulnerable to climate change, he said. Korea has already made two contributions to the fund, USD 100 million in 2013 and USD 200 million during the 2020-2023 fundraising period.

Yoon also noted Korea¡¯s leadership in using hydrogen as an energy source. ¡°The country, which has the largest number of hydrogen fuel cell electric vehicles in the world, will take a leading role in technology partnerships across the whole cycle of the hydrogen economy and global cooperation for setting international standards.¡±

In addition, Korea pledged an additional USD 2.3 billion in aid for Ukraine to help the nation restore peace and rebuild following its war with Russia. This pledge demonstrates Korea¡¯s role as a global pivotal state in leading assistance for the restoration of peace in Ukraine and lays the foundation for its full-fledged participation in the war-torn nation¡¯s future reconstruction.

Korea-ASEAN Solidarity

Before the G20 Summit, Yoon was in Indonesia where ASEAN leaders gathered for their annual summits. There, he echoed his pledges for world peace and security, demonstrating his commitment to strengthening ties with the 10 ASEAN member states and the wider Indo-Pacific region.

Korea sees Southeast Asia as a key focus for its Indo-Pacific strategies. Last year, Korea and ASEAN announced the Korea-ASEAN Solidarity Initiative (KASI), a diplomatic initiative by the Korean government for the enhancement of strategic communication and cooperation for regional peace and stability. Aside from enhanced economic and sociocultural cooperation, the initiative focuses on comprehensive security cooperation, particularly in cyber, maritime and defense security.

Citing last August¡¯s trilateral summit among Korea, the U.S. and Japan held at Camp David, Yoon highlighted the three countries¡¯ full support for the ASEAN-led regional structure. The trilateral cooperation aims to support the maritime security capabilities of ASEAN and Pacific Island nations, he said.

The president, however, acknowledged it¡¯s not enough, saying that a new determination is in need to contribute to the development of ASEAN as a hub of growth by overcoming complex crises. To this end, Yoon stressed the importance of stronger cooperation between ASEAN, Korea, China and Japan, something that he said will ¡°form the basis of ASEAN Plus Three¡¯s development.¡±

¡°Because we recently opened a new chapter in trilateral cooperation among Seoul, Washington and Tokyo through improved ties between Korea and Japan, the invigoration of trilateral cooperation among Korea, Japan and China will serve as a stepping stone for ASEAN Plus Three cooperation to achieve major progress,¡± he said.

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