Korean Peninsula: The policy of ‘green growth with low carbon’

Professor Yun Young Mi

Pyungtaek University

Attainment of ‘Global Korea’ and ‘Global FTA hub’

Participating in the expanded G8 (the 8 developed countries) summit talk held in L’Aquila, Italy from the 7th day to the 15th day, President Lee Myung Bak successfully attained the round visit diplomacy in 3 European countries. Obviously, the largest result of President Lee in this tour is the conclusion of FTA between Korean and EU. Having summit talk with Fredrik Reinfeldt, the prime minister of Sweden on the 13th day, President Lee declared the conclusion of FTA negotiation between Korea and EU. As a result, FTA between Korea and EU was concluded in 2 years and 2 months after the 1st negotiation was held in Seoul in May 27. To lead this negotiation, President Lee set the sequence of summit talks with 3 visiting countries in order of Poland, Italy and Sweden. The strategy to directly persuade the summits of Poland and Italy which were quite reserved and negative to FTA and to declare conclusion of negotiation in Sweden, the presiding country of EU was quite successful. The remaining tasks are legal check-up to make protocol by documenting the final agreement, the provisional signature to confirm the contents of protocol, the signature of Korea and 27 EU member states, ratification in the National Assembly of Korea and consent in the European Parliament. It is expected that the agreement would be effectuated in the 1st half of next year.

Above all, this settlement of FTA between Korea and EU is significant in that it will change our trade considerably than any other FTA conclusion and affect the other countries remarkably. Namely, once this agreement is brought into effect, the largest economic federation in the history is to be constructed, exceeding NAFTA effectuated in 1994. Since settling Korea-Chile FTA in 2O02, our government has successfully concluded or settled FTA negotiation with 44 countries around the world including US, EU, ASEAN, India, etc. Thus, the ‘FTA federation’ of Korea is to construct broad connection of the developed countries—the developing countries- BRICs including America, Europe and Asia regionally. Especially, if official signature is made with India at the beginning of August as scheduled since the provisional signature in last February as well as with US, Korea is to do trade freely with countries occupying more than 50% of population on the earth.

In this round visit to Europe, President Lee will further solidify future-oriented cooperative relation between both countries through summit talk with Mr. Kaczynski, the president of Poland, the first visiting country. Especially, the cooperation in the area of energy and defense industry will be enhanced through the advancement of our enterprises to LNG terminal, the construction of atomic power plant, etc. Paying a courtesy call on the Pope Benedictto, the 16th in the Vatican as the 3rd president of Korea while visiting Italy on the 9th day, President Lee exchanged opinions on the issues such as developing amicable and cooperative relation between Korea and the Pontiff, the issue of Korean Peninsula, global peace and human right, etc. Expressing gratitude for the invitation to visit Korea proposed by President Lee, the Pope stated that he would visit Korea in proper time. Further, recognizing the importance of strategy for green growth to cope with the plan to overcome economic crisis and future with prime minister on the occasion of the 50th anniversary of amity between Korea and Sweden, he urged close relation for successful settlement of climate change negotiation. Both countries resolved to enhance actual cooperation, e.g., inducing investment amounting to US$ 1.5 billion from Ericsson, the Swedish global information and communication company, military exchange between both countries, technology/information exchange in the area of national defense and joint R&D. Further, President Lee resolved to promote energy, trade and investment and to expand the exchange and cooperation in overall areas such as the event of 20th anniversary of amity between Korea and Russia in 2010 through the summit talk with Mr. Medvedev, the president of Russia. Especially, satisfied with the 1874 resolution for sanction against North Korea in the Security Council of UN in connection with the security of Korean Peninsula, they agreed that 5—parties talk is necessary excluding North Korea in the 6 countries of the talk. Having summit talk with Mr. Kevin Rudd, the prime minister of Australia, President Lee discussed the issues including joint response to international financial crisis, nucleus of North Korea, the enforcement of FTA between Korea and Australia and the promotion of cooperation for green technology.

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