Korea confirmed as host of 2028 G20 summit as Lee calls for 'predictable' trading order
Update: 2025-11-23
Description
This article is by Seo Ji-eun and read by an artificial voice.
"We commit to working together under the United States' Presidency in 2026 and meeting again in the United Kingdom in 2027 and in the Republic of Korea in 2028," the leaders stated in the final section of the G20 South Africa Summit Leaders' Declaration.
The event will mark the first G20 summit held in Korea since the 2010 Seoul Summit.
The presidential office welcomed the decision, saying Korea's assumption of the G20 presidency, following its term as president of the UN Security Council in the first year of the administration and the successful hosting of APEC, "reconfirms our elevated status and demonstrates our determination to lead global solidarity and cooperation."
G20 leaders adopted the declaration on the opening day of the summit, despite complications ahead of the meeting stemming from tensions between this year's host, South Africa, and the United States.
Washington had opposed adopting any document that presumed prior agreement without its consent, saying it could not endorse such a text. The United States ultimately did not participate in the summit.
Even so, South Africa, as chair, proceeded with adoption on day one - an unusually early move, given that the declaration is usually endorsed on the closing day.
U.S. President Donald Trump has argued that multilateral organizations do little to improve people's daily lives, favoring instead bilateral deals struck directly between two countries. The declaration's language - highlighting climate urgency, renewable-energy goals and developing-country debt burdens - touched on precisely the themes the Trump administration has long resisted.
"We reiterate our commitment to the G20 as the premier forum for international economic cooperation and its continued operation in the spirit of multilateralism, on the basis of consensus, with all members participating on an equal footing in all its events, including Summits, in accordance with international obligations," the statement said.
With the declaration containing numerous issues Washington opposes, Korea ultimately backed the adoption in line with its consistent support for multilateral diplomacy.
"Under any circumstances, we intend to play our role and make contributions on the existing international multilateral diplomatic stage," National Security Adviser Wi Sung-lac said during a briefing in Cairo on Thursday.
President Lee Jae Myung reaffirmed multilateral cooperation during the opening day's Session 1, which addressed inclusive and sustainable economic growth.
His reference to a "predictable" trade and investment environment came roughly one week after Korea and the United States completed their joint fact sheet on tariff negotiations. Those talks began in April after President Trump abruptly raised reciprocal tariffs on Korea to 25 percent, creating what Seoul described as an "unpredictable" trade environment.
Lee also said, "The Republic of Korea will make every effort to secure the formal incorporation of the Investment Facilitation for Development Agreement - the initiative that Korea has led and advanced -- as an official WTO instrument at the forthcoming Ministerial Conference." The Republic of Korea is the official name for South Korea.
Lee further emphasized the importance of development cooperation.
"We must elevate the effectiveness of our development cooperation to accelerate growth in the developing countries," he said. "Having led the adoption of the Multilateral Development Banks [MDB] Roadmap Monitoring and Reporting Framework, the Republic of Korea remains committed to actively participating in ongoing MDB reform efforts."
The MDB reform road map includes measures to enhance transparency, strengthen financial safety nets and maximize development outcomes for low-income countries. Trump had argued that multilateral institutions such as MDBs were inefficient relative to the U.S. financial contributions they received and pushed to reduce...
"We commit to working together under the United States' Presidency in 2026 and meeting again in the United Kingdom in 2027 and in the Republic of Korea in 2028," the leaders stated in the final section of the G20 South Africa Summit Leaders' Declaration.
The event will mark the first G20 summit held in Korea since the 2010 Seoul Summit.
The presidential office welcomed the decision, saying Korea's assumption of the G20 presidency, following its term as president of the UN Security Council in the first year of the administration and the successful hosting of APEC, "reconfirms our elevated status and demonstrates our determination to lead global solidarity and cooperation."
G20 leaders adopted the declaration on the opening day of the summit, despite complications ahead of the meeting stemming from tensions between this year's host, South Africa, and the United States.
Washington had opposed adopting any document that presumed prior agreement without its consent, saying it could not endorse such a text. The United States ultimately did not participate in the summit.
Even so, South Africa, as chair, proceeded with adoption on day one - an unusually early move, given that the declaration is usually endorsed on the closing day.
U.S. President Donald Trump has argued that multilateral organizations do little to improve people's daily lives, favoring instead bilateral deals struck directly between two countries. The declaration's language - highlighting climate urgency, renewable-energy goals and developing-country debt burdens - touched on precisely the themes the Trump administration has long resisted.
"We reiterate our commitment to the G20 as the premier forum for international economic cooperation and its continued operation in the spirit of multilateralism, on the basis of consensus, with all members participating on an equal footing in all its events, including Summits, in accordance with international obligations," the statement said.
With the declaration containing numerous issues Washington opposes, Korea ultimately backed the adoption in line with its consistent support for multilateral diplomacy.
"Under any circumstances, we intend to play our role and make contributions on the existing international multilateral diplomatic stage," National Security Adviser Wi Sung-lac said during a briefing in Cairo on Thursday.
President Lee Jae Myung reaffirmed multilateral cooperation during the opening day's Session 1, which addressed inclusive and sustainable economic growth.
His reference to a "predictable" trade and investment environment came roughly one week after Korea and the United States completed their joint fact sheet on tariff negotiations. Those talks began in April after President Trump abruptly raised reciprocal tariffs on Korea to 25 percent, creating what Seoul described as an "unpredictable" trade environment.
Lee also said, "The Republic of Korea will make every effort to secure the formal incorporation of the Investment Facilitation for Development Agreement - the initiative that Korea has led and advanced -- as an official WTO instrument at the forthcoming Ministerial Conference." The Republic of Korea is the official name for South Korea.
Lee further emphasized the importance of development cooperation.
"We must elevate the effectiveness of our development cooperation to accelerate growth in the developing countries," he said. "Having led the adoption of the Multilateral Development Banks [MDB] Roadmap Monitoring and Reporting Framework, the Republic of Korea remains committed to actively participating in ongoing MDB reform efforts."
The MDB reform road map includes measures to enhance transparency, strengthen financial safety nets and maximize development outcomes for low-income countries. Trump had argued that multilateral institutions such as MDBs were inefficient relative to the U.S. financial contributions they received and pushed to reduce...
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