By Diplomacy Journal Lee Jon-young

At the G20 Summit held in Johannesburg, South Africa on Nov. 22 (local time), President Lee Jae-myung proposed, "To enhance growth potential, we must create a predictable trade and investment environment.

President Lee emphasized the importance of multilateral trade, saying, "Restoring the functions of the World Trade Organization (WTO) is in our common interest." He also emphasized the importance of multilateral trade. Notably, Korea has agreed to host the G20 again in 2028, its first in 18 years since 2010.

In the first session of the G20 Summit, President Lee stated, "If imbalances worsen, the future cannot be guaranteed," and advocated, "Multilateral trade, virtuous fiscal cycles, and development cooperation are the solutions to 'inclusive growth.'"

For the first time in history, the G20 Summit, held in Africa, broke with the convention of holding the summit right before the closing ceremony and held it on the opening day. A summit declaration was adopted. US President Donald Trump, Chinese President Xi Jinping, and Russian President Vladimir Putin did not attend this G20 summit.

In the second section of the G20 summit, President Lee expressed South Korea's active participation in climate and disaster response, emphasizing that the country will "take the lead in solidarity with the international community."

In a bilateral meeting with French President Emmanuel Macron, President Lee requested a visit to South Korea next year to mark the 140th anniversary of diplomatic relations between South Korea and France, urging him to "expand exchanges and cooperation in cutting-edge technologies, including the defense industry and artificial intelligence (AI)."

In a bilateral meeting with German Chancellor Friedrich Merz, President Lee urged him to "share the know-how that has helped us overcome division."

President Lee also chaired a meeting of MIKTA (South Korea, Mexico, Indonesia, Turkey, and Australia), a consultative body of five mid-sized countries, and stated, "We will contribute to strengthening global multilateralism by serving as a bridge between developed and developing countries." He emphasized, "We must do this."

The G20 Summit, held in Johannesburg, South Africa, was the first G20 summit held in Africa. It was also the first without the participation of the leaders of the United States, China, and Russia. In this context, some assessed that the G20, which had grown its presence as a consultative body encompassing advanced, middle, and emerging economies to overcome the impact of the 2008 global financial crisis, was facing a fundamental crisis.

At this G20 summit, held amidst this sense of crisis, President Lee Jae-myung once again emphasized the importance of multilateral trade, virtuous fiscal cycles, and development cooperation.

He emphasized the need for all countries to work together to prevent the potential negative consequences of protectionism in the international community.

In particular, President Lee emphasized that "South Korea will take the lead" in minimizing the risk of countries being left behind in the era of artificial intelligence (AI) transition, including complex crises such as climate change and disasters. This is seen as a plan to build on the confidence gained from reaching a tariff agreement with the United States and enhance cooperation by expanding the axis of pragmatic diplomacy to include the Global South (BRICS).