Yoon pledges $2.3 billion to Ukraine for war recovery at G20

President Yoon Suk Yeol pledged $300 million in short-term aid for Ukraine next year and another $2 billion in mid- to long-term support for its war recovery efforts during the Group of 20, or G20, summit in New Delhi on Sunday.

Korean President Yoon Suk Yeol, center right, pays respects at the Mahatma Gandhi memorial at Raj Ghat on the sidelines of the G20 summit in New Delhi, India, on Sunday, alongside leaders of the world’s 20 major economies. From left: U.S. President Joe Biden, British Prime Minister Rishi Sunak, European Commission President Ursula von der Leyen, Yoon, Italian Prime Minister Giorgia Meloni and Japanese Prime Minister Fumio Kishida. [JOINT PRESS CORPS]

President Yoon Suk Yeol pledged $300 million in short-term aid for Ukraine next year and another $2 billion in mid- to long-term support for its war recovery efforts during the Group of 20, or G20, summit in New Delhi on Sunday.

"Korea will work in solidarity with the international community to implement a comprehensive support program covering the fields of security, humanitarianism and reconstruction for Ukraine going forward," Yoon said in the third session of the G20 summit, addressing leaders of the world's 20 major economies. He recalled his visit to Kiev in July, during which he announced a comprehensive initiative to support Ukraine's recovery efforts amid the war with Russia.

The Korean government will provide short-term aid to Ukraine in 2024 in the form of grants, humanitarian aid and support through international financial institutions included the World Bank and the European Bank for Reconstruction and Development (EBRD), according to the presidential office.

The $2 billion support package for rebuilding Ukraine will be provided in the form of long-term, low-interest concessional loans through the Economic Development Cooperation Fund (EDCF) beginning in 2025.

The EDCF was established in 1987 to provide loans to developing countries.

"Since World War II, the international community has established the prohibition of the use of force as a solid legal principle," Yoon said in his address, calling for an "end to the war and a restoration of peace in Ukraine as soon as possible" in keeping with such principles.

During the "One Future" session, Yoon emphasized the need to expand the role of multilateral development banks to better tackle global challenges including the climate crisis, food security and sustainable development.

He also said Korea will help lead the establishment of a digital norm order and actively lead discussions on restructuring debt for low-income countries.

The theme of this year's G20 summit chaired by India was "One Earth, One Family, One Future," as world leaders focused on issues including sustainable development, climate financing, trade and investments, a digital transition and safeguarding international peace.

Yoon's presidential office said that the amount promised to Ukraine is unprecedent, twice the amount compared to the usual assistance ranging from $500 million to $1 billion.

"This is to demonstrate our responsible role as a global pivotal state in taking the lead in the restoration of peace in Ukraine and laying the foundation for full-fledged participation in its future reconstruction," a senior presidential office said in a press briefing in New Delhi, regarding the plans to support Ukraine's recovery.

In July, Yoon made a surprise visit to Kyiv for a summit with Ukrainian President Volodymyr Zelensky and announced the "Ukraine Peace and Solidarity Initiative," Korea's comprehensive package of security, humanitarian and reconstruction aid.

In the first session on "One Earth" Saturday, Yoon pledged an additional $300 million to the Incheon-headquartered Green Climate Fund as part of Korea's efforts to help developing countries respond to climate change and reduce greenhouse gas emissions.

Korea contributed $100 million in 2013 and another $200 million between 2020 and this year to the climate fund.

The G20 leaders on Sunday issued a joint declaration which contained softer language on Russia than anticipated. The leaders pledged to unite in endeavors "to address the adverse impact of the war on the global economy and welcome all relevant and constructive initiatives that support a comprehensive, just, and durable peace in Ukraine."

Korean President Yoon Suk Yeol, left, speaks with U.S. President Joe Biden during a gala dinner of the G20 summit at the Bharat Mandapam International Exhibition-Convention Centre in New Delhi on Saturday evening. [PRESIDENTIAL OFFICE]

On the sidelines of the G20 summit in India, Yoon had several encounters with U.S. President Joe Biden after their last meeting at the trilateral summit with Japanese Prime Minister Fumio Kishida in Camp David last month.

Yoon and Biden had a brief reunion in the leaders' lounge area at the Bharat Mandapam International Exhibition-Convention Centre in New Delhi on Saturday afternoon.

Yoon recalled that there have been "various opportunities discussing how the trilateral cooperation between Korea, the United States and Japan will contribute to freedom, peace and prosperity around the world," Kim Eun-hye, senior presidential secretary for press affairs, said in a statement.

Yoon also thanked Biden for his hospitality at Camp David on Aug. 18, calling it a "personally unforgettable moment" and called to "continue to create more history together."

Biden in turn jokingly invited Yoon to return back home with him since they already had spent time together at the presidential vacation spot.

Later Saturday evening, Yoon and first lady Kim Keon Hee attended a gala dinner at the convention center hosted by Indian Prime Minister Narendra Modi. They shared a table with Biden, Modi, Kishida and German Chancellor Olaf Scholz.

Yoon and Biden were seated next to each other at the dinner event, and the two leaders further discussed their trilateral summit with Kishida, according to his office.

"Solidifying the Korea-U.S.-Japan cooperation mechanism established at Camp David will greatly contribute to the development of the Indo-Pacific region and global society," Yoon said to Biden. "Furthermore, it will create quality jobs in our three countries."

Biden in turn told Yoon that he was the "driving force" behind the trilateral cooperation at Camp David, which he said will have a "positive impact" on the lives of ordinary families of the three countries, according to Kim.

During his weeklong overseas trip that took him to Indonesia for Asean-related meetings and India for the G20 summit, Yoon held bilateral talks with the leaders of some 20 countries.

On Saturday, Yoon also took part in a separate summit of Mikta countries, a partnership of five middle-power countries: Mexico, Indonesia, South Korea, Turkey and Australia.

This marked the 10th anniversary of the Mikta grouping, and the five leaders issued a joint press statement expressing "deep concerns" on the "increasingly challenging global strategic environment due to increasing division in the world" and various challenges including climate change, rising food security, elevated energy prices and the war in Ukraine.

The leaders pledged to "strengthen our joint actions on global issues where we have shared interests, and reinforce our constructive role internationally."

Yoon held bilateral talks with the leaders of countries including Argentina, Turkey, Bangladesh, Comoros and Nigeria along the sidelines of the G20 summit.

Korean President Yoon Suk Yeol, left, chats with Chinese Premier Li Qiang in the lounge at the Mahatma Gandhi memorial in New Delhi, India, on Sunday, following their bilateral meeting in Jakarta on Thursday. [JOINT PRESS CORPS]

Korean President Yoon Suk Yeol, left, and Japanese Prime Minister Fumio Kishida shake hands ahead of a bilateral summit on the sidelines of the G20 summit in New Delhi Sunday. [JOINT PRESS CORPS]

Chinese President Xi Jinping skipped out on this year's G20 summit.

However, Yoon held his first bilateral meeting with Chinese Premier Li Qiang in Jakarta on Thursday where he called on China, as a permanent member of the UN Security Council, to "fulfill a responsible role" on the North Korea nuclear issue.

During the talks, Yoon expressed hopes that the nuclear issue "does not become an obstacle to the development of South Korea-China relations." He noted that if the North Korean nuclear issue is not resolved, it will end up only strengthening the South Korea-U.S.-Japan cooperation system.

He expressed expectations for further economic cooperation with China, in contrast to his stronger message for Russia during Asean-related summits, warning against any potential arms deals with North Korea ahead of a potential meeting between the two countries' leaders.

Yoon and Li had another brief encounter as G20 leaders paid respects at a memorial site dedicated to Indian independence leader Mahatma Gandhi Sunday morning, according to the presidential office in a statement.

Li approached Yoon and "greeted him warmly," said press secretary Kim, and the Korean president expressed hopes to meet Premier Li again this year. He also sent his "special greetings to President Xi Jinping," and Li said he will relay the remarks.

Yoon also had bilateral talks with Kishida on the margins of the G20 gathering, and expressed hopes for a Korea-Japan-China summit within the year, the presidential office said. Korea is the current chair of the trilateral summit, which has not been held since 2019. Kishida agreed to the proposal.

Yoon had a lunch meeting with Korean businesses operating in India.

Later Sunday, Yoon held a bilateral summit with Indian Prime Minister Modi, their second meeting after one on the margins of the G7 summit in Hiroshima in May.

The two leaders agreed to strengthen strategic communication and cooperation as key partners in the Indo-Pacific region, as Korea and India celebrate 50 years of bilateral relations this year, said the presidential office in a statement.

The two sides agreed to continue cooperating to ensure the smooth progress of the second phase of the K9 self-propelled howitzer project, a symbol of cooperation in the defense industry, according to the presidential office.

The Indian army's K9 Vajra-T self-propelled howitzer was built based on technology transferred from Korean arms manufacturer Hanwha Defense's K9 Thunder.

On Friday, Yoon also held a bilateral summit with Indonesian President Joko Widodo in Jakarta, where the two sides agreed to expand strategic cooperation in diplomacy and security, the defense industry, economy and people-to-people exchanges.

The two countries also agreed to work closely together to successfully complete the KF-21 next-generation fighter development project, jointly funded by Korea and Indonesia.

Yoon's bilateral talks were also an opportunity for him to promote Korea's bid to host the 2030 World Expo in Busan ahead of the secret ballot scheduled for November, according to the presidential office.

Yoon and first lady Kim are set to return to Korea Monday.

Korean President Yoon Suk Yeol, left, holds a bilateral summit with Indian Prime Minister Narendra Modi on the sidelines of the G20 leaders' summit in New Delhi on Sunday. [JOINT PRESS CORPS]

BY SARAH KIM [kim.sarah@joongang.co.kr]