Pres. Park emphasizes importance of G20 policy coordination for joint growth
The first session of the G20 Leaders' Summit on Thursday was about "growth and the world economy."
The issue of Washington's plan to scale back its quantitative easing program topped the agenda.
In a speech, President Park emphasized the importance of policy coordination among the G20 countries for joint growth.
She said, if things get difficult for emerging economies, it will make things harder for developed countries as well, as economic conditions in one country can quickly affect another in the current economic climate.
President Park called on developed nations to take a more cautious stance in putting an end to their stimulus measures considering the negative impacts the move will have on emerging markets.
"Although an exit strategy is aimed at normalizing the abnormal, she emphasized that developed countries should carefully think about how it will affect emerging nations."
Senior presidential secretary for economic affairs Cho Won-dong told reporters that President Park played a role as what he called a "facilitator" trying to bridge the gap between developing and developed nations.
President Park also stressed the need to set up a G20 strategy to restore financial stability, and welcomed plans to tackle overseas tax avoidance and to develop a global system for tax information exchange, all of which will be included in this year's joint communique.
Meanwhile, attention had been drawn as to whether President Park will separately hold talks with Japanese Prime Minister Shinzo Abe during the summit.
Cheong Wa Dae confirmed that the two shortly met at a reception ahead of a working dinner in the evening.
"After wrapping up her G20 summit schedule, President Park is scheduled to hold bilateral talks with Russian President Vladmir Putin, where she is expected to seek support for her North Korea policy, just as she did with U.S. President Barack Obama and Chinese President Xi Jinping.
Eoh Jin-joo, Arirang News, Saint Petersburg."
Reporter : firstname.lastname@example.org