Michael Reiterer, Ambassador of European Union (EU) to Korea, visited KIEP on May 21 (Thurs.) to hold a meeting with Acting President Chung Chul and share his insights with KIEP staffs during a Leading Experts Seminar (LES).

The LES was held to discuss how to respond to the COVID-19 crisis along with Europe's Green Deal and sustainable finance. Ambassador Reiterer said many countries are expected to step up investment to overcome the COVID-19 crisis. In the process, he stated investments should be made in climate-friendly social and economic recovery programs that can be applied in the future, such as the EU Green Deal. In addition, he also explained the EU is building an "International Platform on Sustainable Finance" aimed at increasing international mobility of private capital, and expects Korea's participation.

Ambassador Reiterer also said that since the Green Fund was first created in 2007, the number has been on a gradual increase until recently, with 382 cases (total 142 billion dollars) in 2018 and 475 cases (total 185 billion dollars) in 2019. Furthermore, he stressed the importance of structural changes caused by the Green Deal and Green Finance, suggesting that smart spending for future generations will be needed, although vast amounds of funding will be needed to cope with the ongoing COVID-19 crisis.

- Event: Michael Reiterer, EU Ambassador to Korea, Holds a Leading Experts Seminar at KIEP
- Date & Time: May 21, 2020 (Thurs.), 10:30~12:00
- Venue: KIEP
- Contact: Ms. Yuri Kim, Researcher, International Finance Team (yrkim@kiep.go.kr)