President Moon Jae-in (front row, far right) poses for a group photo with other world leaders at the G20 Summit in Hamburg, Germany, on July 7.

By Sohn JiAe

Photos = Cheong Wa Dae

President Moon Jae-in and the other G20 leaders adopted a joint communiqué following the two-day G20 Summit in Hamburg, Germany, on July 8, highlighting free trade and a strong commitment to the Paris Climate Change Accord. 

“Korea firmly supports efforts being made by the G20 member states to fight trade protectionism, to strengthen the multilateral trading systems centered on the World Trade Organization, and efforts to expand free trade,” President Moon stressed. 

“The benefits of free trade should be more fairly shared and to this end, the Korean government will actively work to minimize disadvantages that smaller companies or agricultural businesses might face as we expand tree trade,” he said. 

As for climate change, President Moon said, “It’s something that the international community must deal with together. Addressing climate change is an investment for generations to come, and, also, an opportunity to create new jobs and new economic growth engines.” Meanwhile, he showed his will to fully implement the Paris Agreement. 

He then vowed to work to reach Korea`s target for cutting greenhouse gas emissions by 2030, a framework set by the U.N., while saying that, “Korea has already shifted the paradigm of its energy policies toward eco-friendly, low-carbon energy sources. We will endeavor to lay the foundation for sustainable growth in a new climate system.” 

President Moon Jae-in (front, second from right), other G20 leaders and heads of international organizations attend the G20 Summit held in Hamburg, Germany, on July 7.

President Moon demonstrated his commitment to the G20 common goal of “strong, sustainable, balanced and inclusive growth” in order to resolve low economic growth, a lack of jobs, and the corresponding polarization in wealth. 

The president emphasized the need to shift the paradigm of economic policies, as he outlined the economic vision and policies that his administration has set and pursued. 

As he explained government policies designed for job-creating growth, a fair economy and innovative growth, President Moon welcomed the list of principles adopted by the G20 states that could help to strengthen economic resilience. 

“Although the world economy is currently bouncing back, risk factors still remain, like political uncertainty and the normalization of currency policies,” he said. “To get over these challenges, I welcome and support the G20’s ‘resilience principles, led by Germany, the chair of this year’s summit.”

The full text of the joint communiqué can be read in the attached file below. 

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