By Kang Gahui and Lee Jihae 

"The era of a peace-driven economy on the Korean Peninsula – when peace leads to economic development that in turn cements peace – will benefit all. It will provide a new growth engine for the economy not only on the Korean Peninsula but also in Northeast Asia and the world." 

President Moon Jae-in on June 29 said this at the third session of the G-20 summit in Osaka, Japan, in which the theme was resolving inequality and creating an inclusive and sustainable world.

He said "peace is a cornerstone for sustainable development," adding, "To create a human-centered society of the future, we must resolve inequality and pursue inclusive and sustainable development." 

"Problems such as inequality, social polarization and the rapidly aging society are difficult for a single nation to tackle alone. We must cooperate to take proactive measures before these matters get worse." 

Earlier on June 28 in the summit's first session under the theme of the world economy, trade and investment, President Moon urged G-20 member states to take the lead in blocking the spread of trade disputes and protectionism and preemptively responding to a global economic downturn. 

"The world economy is being pushed toward a contractionary equilibrium due to trade disputes. We must revert to an expansionary equilibrium in which everyone benefits from free trade," he said. 

"Korea supports WTO (World Trade Organization) reforms for a free and fair trade order and will actively participate in relevant G-20 discussions." 

President Moon is slated to return home after holding a bilateral summit with Canada on June 29. 
 


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