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All About the Seoul Business Summit

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2010-11-10

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A day before the G20 summit begins Seoul will host the G20 business summit also known as the B20.
We're going to take a look at this event which has drawn high-profile delegates including leaders of the world's largest apparel‚ steel and alternative power corporations.
The B20 is operating under the theme of "the Role of Business for Sustainable and Balanced Growth."
Of the G20 President Lee says the task now is to work together to ensure strong and sustainable growth and that we must look beyond the crisis.
Our Arirang Today reporter Hwang Sung-hee is standing by at the G20 Main Press Center to tell us more about the Seoul Business Summit.
Hello Sung-hee.
[Reporter : ] Hello guys.
The long-awaited G20 Seoul Summit will finally kick off tomorrow here in the nation's capital.
Right behind me is the Main Press Center‚ and although there are not many reporters here now‚ starting this afternoon‚ the center is expected to be filled with thousands of people coming to cover the global event.
And on the sidelines of the G20 Summit‚ a conference for business leaders dubbed the G20 Business Summit is also taking place.
According to a draft released yesterday by the organizing committee‚ the 120 participating CEOs urged G20 leaders to take active measures to bring forth successful negotiations in the Doha Development Round within 2011 for revitalizing international trade.
The business leaders also stressed the role of private investments in bringing about long-term economic growth.
Around 120 business leaders from around the globe are gathering in Seoul to discuss the corporate roles in promoting global economic growth.
The Seoul G20 Business Summit taking place on the sidelines of the G20 Summit is the first of its kind and will be held from November 10th to the 11th.
The two-day summit will bring together major entrepreneurs‚ heads of financial institutions and IT moguls from 34 nations at the Sheraton Walkerhill Hotel as they seek to contribute to a sustainable and balanced growth of the world's economy.
The agenda of the summit consists of four main themes namely‚ boosting trade activity and investment‚ stabilizing financial systems‚ achieving green growth and encouraging corporate social responsibility.
Each theme will be divided into three sub-topics and detailed 60-minute talks will be conducted on issues such as job creation‚ advancing technology and production‚ as well as improving medical systems in developing nations.
Some big names attending the event include Nestle Chairman Peter Brabeck-Letmathe‚ who will act as a convener for talks on cross-border investment‚ as well as Victor Fung of Li & Fung Group from China who will conduct discussions on trade liberalization.
The participating firms are prominent figures in the business sector boasting combined assets of around 30 trillion US dollars.
And the invitation was not exclusive to those based in G20 nations as around 25 participating businesses are from non-member nations.
What is important about the conference is that this marks the first attempt at drawing private sector participation under the G20 framework.
The meeting will become a ground for direct exchanges between business leaders and political leaders as 11 heads of states have sent their RSVPs.
President Lee Myung-bak is expected to attend the opening ceremony of the Business Summit‚ while German Chancellor Angela Merkel will join the CEOs at the luncheon on the following day.
UK Prime Minister David Cameron has confirmed to be at the closing ceremony and the remaining eight leaders will each attend a roundtable session.
The ideas and suggestions made by the participants at the Business Summit will undergo a review by the G20 leaders and be announced in a joint statement ahead of the G20 Seoul Summit.
The outcome of the conference will be delivered by the Korean President to his counterparts at the f

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