In November of this year, Korea will host the G20 summit meetings. The first scheduled meeting will discuss topics regarding financial affairs across the globe. Recent assessments in Korea have been prepared to make this summit a success for all participating countries.
On February 27 and 28 of 2010, Korea held a G20 summit meeting at Songdo Convensia in Incheon. This meeting provided an opportunity for Incheon to be recognized worldwide by being the primary location of this important global meeting. The G20 Fininace and Central Bank Deputies' Meeting discussed about topics including specific country's financial status and how to bolster individual country's economy. For all attendees, this meeting was considered an important step for the world to progress forward and overcome the worldwide financial crisis.
Many important people that are recognized worldwide were present at this meeting. Shin Je-yoon, Deputy Minister for International Affairs, Ministry of Strategy and Finance and Rhee-Gwang-ju, Deputy Covernor of the Bank of Korea were both co-chairman for this meeting to discuss about the progress of the summit and the global financial crisis.
At this meeting, 180 different concerned people were present to state their opinions. The Ministry of Strategy and Finance's vice-minister, the Central-Bank's vice-president, members of the Worldwide Bank, members of the International Monetary Fund (IMF), members of the Organization for Economic Cooperation and Development (OECD), and members of the Financial Stability Board were in attendance for this meeting to state their opinions and suggestions about the world's economy. Amongst these 180 attendees, well-known global figures were present for this meeting. The United State's Lyle Braynard, responsible for international loans, Kevin Wish who is the director of the Federal Reserve System, vice-president of China's Lun-Min Bank, Japan's under-secretary Damaki Lindalo, IMF vice-president John Lipsky, OECD vice secretary-general were all present at this important meeting. This meeting provided these important figures to voice their opinions about certain topics and to provide suggestions for the advancement of the global economy.
The meeting that was held on February 27 and 28 in Incheon were for the progression of solving the global financial crisis and solving the after-effects of this dilemma. Throughout this year and last year, the global economy has suffered quite a tremendous blow. Many countries were experiencing a decline in their economy and many others were experiencing a debt in their budget. However, through this G20 meeting, participating countries hope to make a successful transition from a global recovery to a stronger, sustainable growth in each of their individual countries. It is a fact that Korea will use their best efforts to bring about a successful change to the global economy.