By Diplomacy Journal Lee Jon-young

Prime Minister Kim met with Papua New Guinea Deputy Prime Minister John Rosso, who was in Korea for the APEC Summit, and discussed ways to further develop cooperative relations on Oct. 31.

During the meeting, Prime Minister Kim stated, "I hope to further develop diplomatic relations between our two countries and strengthen substantive cooperation. Let's discuss various ways to strengthen cooperation, such as at the Korea-Pacific Islands Foreign Ministers' Meeting scheduled for Seoul later this year."

Deputy Prime Minister Rosso said, "Korean companies have contributed significantly to the development of Papua New Guinea's infrastructure, including roads and transportation facilities," and added, "I hope that mutually beneficial cooperation between our two countries will continue to expand."

He added, "Let's further invigorate trade, focusing on natural gas and oil, and explore ways to expand the presence of Korean companies in Papua New Guinea."

The two sides expressed hope for further strengthening development cooperation through the KOICA office scheduled to reopen in Port Moresby, Papua New Guinea, this year.

Prime Minister Kim also met with Citigroup CEO Jane Fraser, who was visiting Korea for the Asia-Pacific Economic Cooperation (APEC) CEO Summit in Gyeongju, on October 31, and discussed cooperative measures.

Meeting with Fraser at the Gyeongju Arts Center that afternoon, Prime Minister Kim stated, "The government is pursuing hyper-innovation that will outperform our competitors by upgrading the entire Korean economy's production structure based on artificial intelligence (AI)."

He added, "To achieve this, we are planning to establish a National Growth Fund worth 150 trillion won," and urged Citigroup's interest and participation.

He said, "Global capital participation is crucial for the National Growth Fund and the large-scale projects it supports. Citibank's proactive participation will serve as an opportunity to increase added value and enhance its presence in the region."

CEO Fraser expressed her delight at visiting Gyeongju, saying, "Being able to share Citigroup's vision on international economic issues at the CEO meeting made my visit to Korea even more meaningful."

She continued, "I commend the Korean government's economic strategy and vision. Korea, which achieved the Miracle on the Han River, will be able to develop its economy based on global future core industries such as AI (artificial intelligence) and robotics, even amidst intensifying strategic competition."