G20 Summit: South Korea Advocates for Technological Advancements and Zero-Carbon Energy
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Seoul, Dec 13 (NationPress) South Korea has urged significant nations to explore avenues for the active utilization of zero-carbon energy resources and collaborate to foster technological innovation in response to various global economic challenges, according to the finance ministry on Friday.
The South Korean government emphasized this during the Group of 20 (G20) meeting for finance and central bank deputies, which convened in Johannesburg, South Africa, on Wednesday and Thursday (local time), as stated by the Ministry of Economy and Finance.
This marked the inaugural meeting in the financial track for this year's G20 series under South Africa's leadership, as reported by Yonhap news agency.
During the discussions, Deputy Finance Minister Choi Ji-young highlighted the necessity for participating nations to adopt measures to ensure a stable global financial system and to reform multilateral development banks.
Choi also underscored the importance of establishing guidelines for the efficient use of financing to mitigate downside risks for the global economy, maximize zero-carbon energy resources, and advocate for technology innovation focusing on artificial intelligence to enhance productivity and achieve sustainable development, the ministry noted.
The upcoming G20 finance ministers' meeting is set to occur in Cape Town in February to deliberate on economic and financial matters of shared interest, it added.
In related news, the three major global credit rating agencies shared a unanimous view on Friday that South Korea's credit rating remains stable despite recent political upheavals, according to the finance ministry.
The three credit rating agencies — Moody's Ratings, Fitch Ratings, and Standard & Poor's Global Ratings (S&P) — expressed this assessment during separate virtual discussions with Finance Minister Choi Sang-mok, as reported by the Ministry of Economy and Finance.
These meetings followed President Yoon Suk Yeol's brief declaration of martial law just a week prior.
