Security Tight for G20 Summit in Seoul, South Korea
- 14 years ago
Security is tight in Seoul, South Korea as leaders of the Group of 20 countries are due to meet this week to discuss global financial issues. Topping their agenda, exchange rates and trade imbalances. Here's more.
Leaders of G20 and emerging countries are set to meet in Seoul on Thursday and Friday amid tight security measures.
[Kong Joong-pyo, Special Forces Member]:
"Our special forces are doing our best to be perfectly ready for the G20's major officials to arrive and leave the Incheon Airport and to prevent any terror attacks."
Seoul is at the highest security level due to concerns of violent anti-capitalist protests on the one hand and worries that North Korea may try to stage an incident on the other.
The summit venue has been cordoned off with fences and airport screening has increased.
Inside the secured zone, keeping political peace will be a priority for G20 leaders.
The leaders are expected to show they have not lost the cooperative spirit forged during the depths of the financial crisis in 2008.
But growing discontent over exchange rates and trade has exposed deep international rifts.
High on the worry list is protectionism.
Fears the U.S. dollar is heading down and China's tight grip on the yuan means there's a lot of pressure on other countries.
[Kim Jung-sik, Economics Professor, Yonsei University]:
"I think it might be possible to have some kind of package deal, which is adjusting currencies of some countries such as China, Japan and South Korea in a lump who have trade surplus with the United States."
The leaders agreed surplus countries such as China should bolster its domestic demand while the United States and other big importers should boost savings and investment.
Leaders of G20 and emerging countries are set to meet in Seoul on Thursday and Friday amid tight security measures.
[Kong Joong-pyo, Special Forces Member]:
"Our special forces are doing our best to be perfectly ready for the G20's major officials to arrive and leave the Incheon Airport and to prevent any terror attacks."
Seoul is at the highest security level due to concerns of violent anti-capitalist protests on the one hand and worries that North Korea may try to stage an incident on the other.
The summit venue has been cordoned off with fences and airport screening has increased.
Inside the secured zone, keeping political peace will be a priority for G20 leaders.
The leaders are expected to show they have not lost the cooperative spirit forged during the depths of the financial crisis in 2008.
But growing discontent over exchange rates and trade has exposed deep international rifts.
High on the worry list is protectionism.
Fears the U.S. dollar is heading down and China's tight grip on the yuan means there's a lot of pressure on other countries.
[Kim Jung-sik, Economics Professor, Yonsei University]:
"I think it might be possible to have some kind of package deal, which is adjusting currencies of some countries such as China, Japan and South Korea in a lump who have trade surplus with the United States."
The leaders agreed surplus countries such as China should bolster its domestic demand while the United States and other big importers should boost savings and investment.