Tuesday, October 26, 2010

G20 Seoul Summit

G20? no its not a parody of “like a G6” by the Far East Movement, but its a summit on Financial Markets and the World Economy, which will be held in Seoul, South Korea in November 2010.  This summit has a signifiant place in history, not only because it is the 5th G20 summit after the formation of G20, but because its the first G20 to be held by a country which is not a member of G8.  

During the G20 summit, heads of state from nations of top 20 economy will be gathered in Seoul to discuss the future economy and the measures that should be taken in order to ensure financial stability.  South Korea has held world events such as 1988 World Olympics as well as 2002 FIFA World Cup, but G20 is significant because presidents of countries, prime ministers, and Kings of nations will be all gathered under one roof to discuss economic matters.  In order to host a G20 summit, a nation needs not only the necessary funding, but also stable society as well as the security measures to ensure the safety of the all the heads of the state.  Other nations that have held previous summit include United States, United Kingdom and Canada.  

The security measures that are currently being taken to ensure the safety of all the participants are tremendous and the publicity which South Korea is receiving is equally tremendous.  South Korea has been preparing painstakingly for this event with public announcements airing on television to ensure that citizens behave with etiquette.  If South Korea is able to successfully host the G20 summit without any mishaps, the world will take notice and in my honest opinion, will raise the reputation of South Korea.  I hope the G20 summit goes well, and later look forward to South Korea hosting the G8 summit.

By: Austin Yi

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