Press Release No. 10/08

Press Release: Korea and IMF to Co-Host a High-Level International Conference

January 14, 2010

The Government of the Republic of Korea and the International Monetary Fund (IMF) announced today that they will jointly host a high-level international conference on Asia in Seoul, South Korea, during July 12-13, 2010. The conference will bring together leading figures from around the world to examine Asia’s economic dynamism and evolving role in international policy-making.

The conference is expected to bring together more than 300 high-level participants, including prominent business leaders, financial market experts, academics, civil society representatives and journalists, as well as finance ministers, central bank governors and other senior policymakers.

“Asia is at an important crossroads,” Mr. Strauss-Kahn said. “In a post-crisis world, Asia is well positioned to build on its strong macroeconomic track record and engage prominently in the debate on policy challenges facing the global economy.” Built on the theme of “transformation”, the conference will present “a significant opportunity for all key players to share their insights on the challenges and opportunities facing Asia and the global economy in the next decade,” he added, “and it will also underscore the IMF’s renewed commitment to serving as a global partner for the region.”

Mr. Strauss-Kahn noted that he was delighted that the Korean authorities had agreed to co-host the conference. “As chair of the G-20 process in 2010, Korea will be playing a critical role in shaping the global economic policy agenda this year, including on IMF reforms,” he said.

The four key objectives of the conference are to:

• Articulate a shared vision and common agenda for Asia to support a strong global recovery, while drawing lessons from the past in a candid and constructive manner;

• Showcase Asia’s success in economic management and highlight lessons for other regions;

• Examine Asia’s economic growth model, its prospects going forward, and the implications for the global economy;

• Discuss the role of Asia in the international community, including the IMF, in this process.

Recognizing Asia’s diverse economic landscape, the conference will encompass issues relating to advanced, middle- and low-income countries. The conference will explore these issues through interactive discussions among a diverse and influential group of official and non-official speakers.