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A Collaborative Vision for Global Economic Stability

          During the opening ceremony of the 13th Asian Leadership Conference (ALC), South Korean’s President Yoon Seok-yeol, stressed the need to fulfill international responsibilities and roles in addressing challenges like the COVID-19 pandemic, supply chain instability, and global economic crises. He asserted that by doing so, the nation could navigate through these complex crises wisely.

          In his speech, President Yoon highlighted that the multifaceted crises faced in the “new normal” era are not confined to any single country. He mentioned that this theme aligns with the interests of many countries, and the new government is dedicated to developing medium- to long-term strategies to prepare for the challenges of the new normal era, as confirmed at the NATO summit.

          Regarding the ALC’s theme, “New Normal Era: Finding the Key to Transformation,” President Yoon stated, “As confirmed in the NATO summit, this theme attracts the attention of many nations, and the new government is also focusing on developing strategies to prepare for the new normal era.”

          President Yoon emphasized the importance of international solidarity and cooperation in preparing for an era of economic security. He stated that the government would build a comprehensive supply chain based on core capabilities in advanced industries such as semiconductors, batteries, and future industries, and strengthen technological industrial partnerships through international collaboration. He added that the government would create conditions for private entities to become true economic leaders through innovation.

          Proposing a shift to an economy centered on the private sector and emphasizing collaboration with the international community, President Yoon outlined plans for the transformation of the new normal era. He mentioned concentrating government capabilities on finding future growth engines, reconsidering pandemic responses, and overcoming the crisis of rising prices.

          He highlighted the significance of the South Korea-U.S. alliance as the cornerstone of the nation’s foreign and security policy, rooted in universal values such as democracy, human rights, and the rule of law. He mentioned the shared commitment to these values with President Biden during the May South Korea-U.S. summit and the close ties observed among member and partner countries at the NATO summit.

          In conclusion, President Yoon expressed the depth of the conference’s meaning, stating that Asia, traditionally a growth engine for the global economy, discusses current challenges and collaboration opportunities. He expressed anticipation for meaningful suggestions from the participants.

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