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KOREAN EMBASSY NEWSLETTER

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KOREAN EMBASSY NEWSLETTER

New Delhi, 6 December 2012 (Vol.1 No.2)

South Korea Elected to U.N. Security Council

Korea and India Review Security Ties

Republic of Korea was elected as a non-permanent member of the U.N. Security Council. South Korea will serve as a member of the 15-nation council for two years, starting 1 January, 2013. ...more

Korea and India have agreed to further enhance the bilateral defence relationship in the mutual interest of both countries, which would contribute to regional peace and stability....more

South Korea Selected as Host of GCF Secretariat

Republic of Korea was selected as a host country of the secretariat of the United Nations climate fund, raising hopes that it will play a bigger role on the international stage in tackling global challenges stemming from climate change....more

Second Korea-India Green Growth Cooperation Forum Held

The Second Korea-India Green Growth Cooperation Forum organized by the Embassy of the Republic of Korea took place in New Delhi on 6 November, 2012, following the first forum in New Delhi on 6 September, 2011....more

IEA Says Korea a Good Example of Green Energy, Nuclear Power

Republic of Korea is setting an example for the rest of the world to follow in developing new and clean energy sources, including nuclear energy, as part of efforts to fight climate change, a country report by an international organization said.... more

Korea's Trade Volume Will Top

$1 Trillion in 2012

The trade volume of Korea is expected to top US$1 trillion for a second consecutive year in 2012, making the country the eighth-largest trader in the world.....more

Embassy Hosted the National Day Reception

Embassy of the Republic of Korea in India hosted National Day Reception on 7 November in New Delhi with the participation of around 600 guests.... more

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Political Section

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South Korea Elected to U.N. Security Council

Republic of Korea was elected as a non-permanent member of the U.N. Security Council.

South Korea will serve as a member of the 15-nation council for two years, starting 1 January, 2013. It will mark the second time Korea has taken a temporary seat on the body, following a term in 1996-97.

“South Korea will be able to take leading part in the U.N.'s efforts for world peace and security and holding a seat again on the Security Council is also expected to contribute to the stable management of situations on the Korean Peninsula,” Seoul's foreign ministry said in a statement. South Korea's election, it added, is viewed as reflecting the international community's evaluation of Seoul's role so far and expectation for potential contributions.

The Security Council is the U.N.'s top decision-making body, tasked with maintaining world peace. “If the first term provided lessons on U.N. diplomacy, now is the stage for South Korea to show maturity in both quality and quantity,” said Kim Sook, Korean ambassador to the U.N. “It would serve as a chance to solidify the stature as a middle power in the international community and expand substantial contributions.” South Korea is scheduled to hold the rotating presidency of the council in February in accordance with alphabetical order. Four other nations - Rwanda, Argentina, Australia, and Luxembourg - also became new members of the council.

The U.S. welcomed the new members. “We look forward to a strong and productive partnership with these incoming members to address issues fundamental to international peace and security, including nuclear non-proliferation, counter-terrorism, conflict prevention and resolution, promotion of democracy and human rights, and the oversight of complex U.N. field operations,” said Susan Rice, U.S. ambassador to the United Nations.

South Korea has come of age when it comes to its U.N. membership, as it joined the organization in 1991 along with North Korea. Ban Ki-moon, formerly South Korean foreign minister, is serving as U.N. secretary general.

South Korean media and government officials celebrated the nation’s successful bid to win a non-permanent seat on the United Nations Security Council. But what exactly does it mean for Korea? Here’s a rough guide.

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Q: What are the non-permanent seats on the UNSC?

A: The UNSC consists of five permanent members–China, France, Russia, the UK and US–as well as 10 non-permanent members, including two from each of the regional groupings of UN member countries. Each year, the Council renews five of its 10 non-permanent seats, assigning them on the regional basis.

Q: What privileges exist while holding a temporary seat on the UNSC?

A: Like the permanent members, the non-permanent members participate in decisions at the council that can authorize the deployment of troops from UN member countries, mandate cease-fires during conflict and impose economic penalties on countries. But only permanent members have veto power over decisions.

Q: Can members of the UNSC bring up their own issues at the council?

A: Any UNSC member can bring up an issue for discussion if nine of the 15 members agree to do so. In order to adopt a resolution or decision, at least nine members (including all of the five permanent members) must vote for it. South Korea has been keen to raise the issue of “comfort women,” or sex slaves used during World War II by Japan, at the UN. It’s unclear if it’ll raise the subject at the UNSC.

Q: Has South Korea been on the UNSC before?

A: Yes. South Korea joined the UN in 1991 and was elected as a non-permanent member on the UNSC for 1996-1997. Kang Jung-sik, an official in charge of international organization affairs at Seoul’s Foreign Ministry said Friday that South Korea’s international profile rose as a result of its place on the UNSC and gave it experience of taking a leadership role in solving multinational security and other issues.

Q: How have South Koreans reacted to the news?

A: It made the headlines of major local newspapers and was widely welcomed across the public and private sectors. At a media briefing Friday morning, Foreign Minister Kim Sung-hwan said:

“South Korea’s election to the council shows the recognition and appreciation of the international community for Seoul’s contribution to and role in enhancing global security and peace. Through this, South Korea will be able to contribute to bringing peace and stability on the Korean Peninsula, which in turn will help solve regional and global troubles.”

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Korea and India Review Security Ties

Korea and India have agreed to further enhance the bilateral defence relationship in the mutual interest of both countries, which would contribute to regional peace and stability.

The Minister of Defence of the Republic of Korea Mr. Kim Kwan-Jin and the Defence Minister of Inida Mr. AK Antony, during the bilateral delegation level talks at South Block in New Delhi on 30 November, agreed to expand over the wide range of comprehensive defence exchanges between the two countries.

Both Ministers also agreed to the regular exchange of military leadership, establishments of regular conference apparatus and the conclusion of Agreement on the Protection of Classified Military Information as early as possible. They also agreed to expand the military education and training program of the two countries, including exchange of junior level officer's military training and mutual visits of special forces units.

They also exchanged views on the global and regional security scenario. In the context of the security situation in the Asia Pacific region, two ministers noted that both countries should continue to cooperate for enhancement of stability and prosperity of the region.

Furthermore, Minister Kim visited 60 Para Field Hospital(PFH), which participated in the Korean War by giving out medical support. At the 60 PFH, he expressed his heart-felt gratitude towards the hospital's devotion to cure the wounded soldiers and the civilian injured as well during the war. He mentioned that “it is amazing that all the relics and memories of the war are properly kept in the hospital. In Korea, India's devotion at war is relatively not well known to the public. I'll certainly do my best to give 60 PFH's role wider publicity among Korean.”

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Economic/Trade Section

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South Korea Selected as Host of GCF Secretariat

Republic of Korea was selected as a host country of the secretariat of the United Nations climate fund, raising hopes that it will play a bigger role on the international stage in tackling global challenges stemming from climate change.

After holding a three-day board meeting of the Green Climate Fund (GCF), South Korea's Songdo, west of Seoul, was selected to house its secretariat. The final approval will be made later this year in Qatar.

The GCF is a U.N. fund launched at the end of 2010. Its main purpose is to channel money from industrialized nations to developing countries, helping them tackle global warming and other problems related to climate change. It is frequently regarded as the 'World Bank' of the green growth and climate change fronts.

“With the decision, Korean companies will be at an advantageous position to acquire information about new projects concerning climate change and to take part in such projects,” Korean Finance Minister Bahk Jae-wan said.

“More importantly, this provides the basis for our country to become the center for global efforts to counter climate change and move toward green growth,” Bahk said, according to the Ministry of Strategy and Finance.

The GCF's decision comes after the government officially delivered its intention to host the GCF secretariat last November and also selected Songdo as a host city of the office.

Korea had been competing with five other countries - Germany, Switzerland, Mexico, Namibia and Poland. Five rounds of voting were held to eliminate the least vote-receiving country one by one.

Detailed voting results were not revealed, but the country was said to have received wide support from newly developing nations and key advanced countries.

The hosting of the US$800 billion fund is expected to enhance South Korea's green growth image, experts said. They also predicted that it will help bring in a huge amount of economic benefits by housing hundreds of U.N. workers and holding about 120 international meetings every year.

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According to a report by the Korea Development Institute, a state-run think tank, the hosting of the GCF office will bring about 380 billion won (343.9 million) worth of economic effects every year.

Green Climate Fund making good progress towards its operationalization

The second meeting of the Board of the Green Climate Fund, that took place on 18‐20 October in Songdo, Republic of Korea, made good progress towards the operationalization of the Fund. In addition to selecting the Republic of Korea to become the host country of the Fund, the Board approved its work plan until the end of 2013 and the related administrative budget, and it adopted its annual report to the Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) to take place on 26 November – 7 December 2012 in Doha, Qatar, in which it invites the Conference to endorse the Board's decision on the host country.

The Board also appointed a Selection Committee to oversee the process of selection of the Executive Director of the Fund. The Executive Director will head the Independent Secretariat of the Fund, to be established in Songdo, Republic of Korea, before the end of 2013.

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Currently, the secretariat of the UNFCCC and the Global Environment Facility (GEF) are providing administrative arrangements for the Interim Secretariat of the Fund. In this regard, the heads of two secretariats have appointed Mr. Ajay Mathur as Director of the Interim Secretariat. Mr. Mathur was, till recently, the Director General of the Bureau of Energy Efficiency in the Government of India, where he successfully established the Bureau and a host of innovative energy‐efficiency programmes over the last six years. The programmes include market‐based mechanisms, regulatory measures, specialized Funds, and a system of tradable certified energy savings, and have led to the recognition of the Bureau as a global pioneer in climate‐change programmes.

The next meeting of the Board of the Green Climate Fund will take place on 12–15 March 2013 in Berlin, Germany.

※ More information is available on the Fund's website at: http://www.gcfund.net

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Second Korea-India Green Growth Cooperation Forum Held

The Second Korea-India Green Growth Cooperation Forum organized by the Embassy of the Republic of Korea took place in New Delhi on 6 November, 2012, following the first forum in New Delhi on 6 September, 2011. The forum was established to share Korea’s Green growth policy and strategy that aims for the common realization of a mutually supportive relationship between growth and environment by holistically embracing a framework of sustainable growth.

This year’s forum attracted close to 70 participants from the area of policy, industry, academia, research, media and other disciplines, providing an excellent opportunity for representatives from Korean and Indian government and industry members to initiate a constructive dialogue between various stake holders through the sharing of experiences.

The successful and impressive examples of Korea’s highly efficient electric motor and energy-saving PVC windows for buildings and houses also gained tremendous attention of the participants.

The forum highlighted India’s emergence as one of the most favoured destinations globally for investments in the renewable energy sector. Its immense potential with an estimated renewable energy prospect of 85,000 MW has been central to future collaborations in the area of green energy. During the discussions, it emerged quite clearly, that the path to achieving this potential lay in increasing capital flow, enhancing partnerships and developing technology.

Speaking at the occasion, the Korean Ambassador to India, Mr. Lee, Joon-gyu, pointed out that “Korea, with its wealth of modern technology and expertise in wind power turbine, solar cell, LED, high efficient electric motor and energy-saving U-PVC window manufacturing, can be an ideal partner for India to help develop its new and renewable resources such as solar, wind and hydro energy.” Mr. Lee also stressed that

“environmentally sustainable growth must remain at the core of the global economic agenda if we wish to make planet earth a beautiful place to live in.”

The Korea-India Green Growth Cooperation Forum is designed to accelerate the process of green growth engagements between public and private sectors of Korea and India.

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IEA Says Korea a Good Example of Green Energy, Nuclear Power

Republic of Korea is setting an example for the rest of the world to follow in developing new and clean energy sources, including nuclear energy, as part of efforts to fight climate change, a country report by an international organization said.

The International Energy Agency (IEA) especially praised the country for its 2009 pledge to voluntarily cut greenhouse gas emissions by 30 percent from its business-as-usual levels in 2020. “In its report, the IEA very positively viewed the country’s setting a reduction target and establishing related laws and regulations for green growth.” the Ministry of Knowledge Economy said in a press release.

The second report by the IEA on the South Korea noted that the country’s large investment in energy, even in comparison with other advanced countries, has been creating what it called a “foundation for low-carbon, green growth.” the IEA’s first country report on South Korea was published in 2006. “(The report) notes it was important for the country to develop cost-efficient technologies that will help reduce energy costs for consumers as the country’s potentials to develop new, renewable energy sources(such as solar and wind power) are low when compared to other member nations of the IEA due to its climate conditions.” the ministry said.

Accordingly, the report said the country’s ongoing efforts to develop nuclear plants was a

“practical and efficient” way to meet its energy needs considering it does not have too many other options.

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Korea's Trade Volume Will Top $1 Trillion in 2012

The trade volume of Korea is expected to top US$1 trillion for a second consecutive year in 2012, making the country the eighth-largest trader in the world.

According to the Ministry of Knowledge Economy, South Korea will see its trade volume exceed the $1 trillion in the middle of this month. If the forecast is right, Korea will surpass Italy to become the eighth-largest country in terms of trade volume.

Korea ranked 13th in terms of trade from 2000 to 2002 but the country saw its standing improve over the past decade. In 2010 and 2011, its trading volume was the world's ninth-largest. Last year, Korea saw its trading volume exceed $1 trillion on 5 December but the ministry said that it will take a few more days this year to reach the mark.

The ministry explained that despite the overall decline in global trade affected by the slowing economy, South Korea fared relatively better compared with other countries in terms of exports.

During the January-September period, Korea's cumulative exports declined 1.6 percent from the same period a year earlier but the ministry said that exports are showing signs of rebounding as they turned around to grow again in October. The country's exports are estimated to have grown 1.2 percent on-year in October to $47.2 billion, breaking three straight months of declines, according to central bank data.

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Embassy Hosted the National Day Reception

Embassy of the Republic of Korea in India hosted National Day Reception on 7 November in New Delhi with the participation of around 600 guests. The Chief Guest of the Reception this year was Milind Murli Deora, Member of 15th Lok Sabha and Minister of State of Communications and Information Technology, and Minister of State of Shipping.

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Chief Guest of the Reception this year was Milind Murli Deora, Member of 15th Lok Sabha and Minister of State of Communications and Information Technology, and Minister of State of Shipping.

Embassy of Korea did 'Bibimbab(famous Korean cuisine) Making' performance

'Gangnam Style' music video with a dance performance of K-pop contest winner

※ Watch 'Gangnam Style'

Performance at Korean Embassy at:

http://www.youtube.com/watch?v

=O3iVZXRcfGE

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