On behalf of the delegation of the Republic of Korea, I sincerely congratulate Mr. Didier Opertti on his election to the presidency of this session of the General Assembly. We are fully confident that the Assembly will reap fruitful results under his distinguished leadership. I would also like to pay tribute to his predecessor, His Excellency Mr. Hennadiy Y. Udovenko, and to the Secretary-General, His Excellency Mr. Kofi Annan. I would like to discuss today our common future and the various efforts that we will need to consider to ensure its betterment. With the new millennium just around the corner, we must contemplate the possibilities for our future world. With confidence and pride, we can look back over the past five decades and note with appreciation the tremendous contributions the United Nations has made towards international peace and prosperity. We must also note that today the United Nations is confronted with enormous challenges and opportunities. The identification of these challenges, both within the United Nations itself and in the world with which the United Nations must engage, is where our discussion must begin. As a world community, we face trends and challenges that test our wisdom and courage. Before I discuss our common efforts, I would like to begin by addressing how we are now handling our own concerns in Korea. Last February, the Republic of Korea inaugurated the Government of President Kim Dae-jung. This Government carries special significance for the Korean people because it marks the first time an opposition party has acceded to power in the 50-year constitutional history of Korea. The Republic of Korea is one of the countries that gained independence during the last half-century; it has subsequently developed into a liberal democracy within a relatively short period of time. Poverty-stricken and war- torn only 50 years ago, the Republic of Korea has now grown to be a middle-power State. My country is currently endeavouring to overcome enormous economic difficulties and to ensure the parallel and harmonious development of democracy and free market economy. We are well aware that the world is watching to see if and how we can accomplish such a difficult task. On 15 August 1998, on the fiftieth anniversary of the Government of the Republic of Korea, President Kim Dae Jung proclaimed the launching of our “Second Nation Building” to define the nation?s efforts to overcome the current crisis and to foster Korea?s democracy and market economy to greater maturity. Our immediate concerns, however, are not only economic. The new Government of the Republic of Korea formulated the “Sunshine Policy”, a policy of constructive engagement, as the cornerstone of its stance towards North Korea. Division, war and confrontation have more often than not characterized inter-Korean relations. Changing the nature of this relationship requires the restoration and cultivation of mutual trust between the two parties. To achieve these goals, President Kim announced the following three principles immediately after his inauguration: no tolerance of any military provocation by North Korea; no attempts on our part to absorb the North; and the active promotion of inter- Korean reconciliation, exchange and cooperation. In line with these principles, my Government is encouraging private sector initiatives to pursue exchanges and cooperation with the North at their own discretion, while maintaining the principle of reciprocity at the governmental level. The Republic of Korea will remain committed to actively responding to the appeals of the United Nations and other international organizations to assist North Korea to overcome its food shortages and economic difficulties. We believe that inter-Korean consultations are indispensable for North Korea?s economic recovery. In this regard, we also look forward to the role of the United Nations system as a facilitator of this process. In his August speech, President Kim Dae Jung further proposed the establishment of a permanent inter- Korean dialogue arrangement headed by ministerial or vice-ministerial officials, in the hope of opening a new 11 era of reconciliation and cooperation between the two Koreas. He also made it clear that the Republic of Korea is willing to send an envoy to Pyongyang to discuss this proposal. The main thrust of President Kim?s engagement policy is to establish a workable system of peaceful coexistence based on reconciliation and mutual trust. The Democratic People?s Republic of Korea reacted passively or even negatively to these proposals. It provoked the Republic of Korea by infiltrating a submarine into South Korean territorial waters in June, and again in late August by launching a rocket into the western Pacific Ocean without any prior warning. My Government deplores these acts of provocation. They pose a serious threat to our security. But despite these acts of provocation, my Government continues to uphold the keynote of its engagement policy so that the two Koreas might come to enjoy the benefits of peaceful coexistence. My Government hopes that the leadership of the Democratic People?s Republic of Korea will put aside its defiance and respond positively to our calls for dialogue and collaboration. We would like to revitalize and implement the Inter-Korean Basic Agreement of 1992 through South-North dialogue. My Government will try to ease tension and create a peaceful environment on the Korean Peninsula through the four-party talks process. I wish to reiterate that our immediate objective is, first and foremost, peaceful coexistence. We hope that the Democratic People?s Republic of Korea will respond with an equal display of sincerity and good faith to our policies of accommodation. I would now like to share some thoughts with you on the current global economic situation. In the past decade, we have witnessed deepening interdependence among countries in the accelerated, market-driven process of globalization. However, contrary to earlier expectations that the globalization process would stimulate world economic growth and reduce the gap between developed and developing countries, the international community is now baffled by the negative repercussions of rapid globalization. Asian countries, which have long been a model of economic development, are now struggling with serious financial crises. Other countries are also suffering economic unrest, and together these may lead to global economic turmoil. The international community, amid sudden and unexpected economic turbulences, would be well advised to develop a common strategy to maximize potential economic benefits of market liberalization and globalization. Towards this end, my Government welcomes the United Nations initiative to strengthen its dialogue and cooperation with the Bretton Woods system. The United Nations is expected to play a more active role in addressing diverse problems arising from the globalization process. Among the various factors that triggered our own domestic economic difficulties was a loose application of the rule of accountability in the corporate and financial sector. My Government is trying to turn the current financial crisis into an opportunity to reform and revitalize its economy. We are taking bold and decisive steps towards a comprehensive structural reform based on democracy and market principles. This structural reform is intended to ensure deregulation of economic activities, transparency and accountability in the financial and corporate sector, and mobility in the labour market. When the ongoing structural reform is successfully completed, the Republic of Korea will be a more free and more open society, contributing to the resurgence of economic dynamism in the Asian region. This is the goal of our structural reform. In spite of overall growth in the world economy, the least developed countries continue to be marginalized and still do not receive their fair share of the benefits of that general trend. As a community, we should pay more attention to the deteriorating situation in these marginalized countries and should strengthen economic and development cooperation for their sustainable growth. For this purpose, my Government supports the development of the least developed countries through the Korea International Cooperation Agency (KOICA) and cooperates with United Nations regional economic commissions, such as the Economic and Social Commission for Asia and the Pacific (ESCAP) and the Economic Commission for Africa (ECA). Even with the current financial crisis, the Republic of Korea continues to play its due role in development cooperation, with KOICA as its focal point. While contributing to the strengthening of multilateral cooperation, we are also participating in regional cooperation efforts aimed at stimulating and sustaining steady regional growth and balanced development for the Asia-Pacific region. We are contributing to regional liberalization of trade and investment through active involvement in the Asia-Pacific Economic Cooperation Council (APEC). In addition, my Government is scheduled to host the third summit of the Asia-Europe Meeting in the year 2000. We will do our 12 best to make the summit a milestone in building a comprehensive partnership between Asia and Europe. Beyond these immediate concerns for economic revitalization in Korea and the world community in general, we are faced with another long-term challenge, that of environmental protection. Climate changes, for instance, demand urgent attention and concrete actions by all countries. Last year, we made historic progress in combating global warming by adopting the Kyoto Protocol. I am pleased to say that my Government will accede to the Kyoto Protocol this afternoon. I should like to take this opportunity to say a few words about the International Vaccine Institute (IVI). My Government has hosted IVI as a part of its commitment to international efforts to prevent childhood diseases, especially those in developing countries. Thirty-two Governments and the World Health Organization (WHO) have signed the Establishment Agreement of IVI, aimed at developing and distributing non-commercial vaccines. Yesterday in New York, the Government of the Republic of Korea and IVI signed the Headquarters Agreement. I look forward to more active support and to the substantial participation of Member States in this worthy project. Fifty years after the adoption of the Universal Declaration of Human Rights, and despite strenuous efforts by the United Nations and human rights defenders, we are still witnessing, to our dismay, serious human rights violations and blatant challenges to United Nations human rights mechanisms throughout the world. Notwithstanding these grim realities, I am convinced that history is moving towards universal respect for human rights and dignity. In this context, my Government fully supports the Secretary- General?s initiative to mainstream human rights in all of the United Nations activities and programmes. As an initiative to bolster national human rights safeguard mechanisms, my Government has begun preparations for enacting a comprehensive human rights act and establishing a national human rights institution. My Government welcomes the adoption of the Statute of the International Criminal Court in Rome last July. We are confident that the establishment of the Court will be a landmark in strengthening the international legal system. We earnestly hope that the Court will be launched as soon as possible. In the rapidly changing international security environment of the post-cold-war era, the United Nations is now faced with new challenges arising from the proliferation of weapons of mass destruction and their means of delivery. We deeply regret the recent nuclear tests carried out by India and then Pakistan. These tests seriously undermine the nuclear non-proliferation regime. We call upon the States concerned to desist from further nuclear testing and weaponization, and to accede to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and to the Comprehensive Nuclear-Test-Ban Treaty (CTBT) without delay. We also urge the international community to maintain vigilance to prevent the transfer of their nuclear weapons-related materials, equipment and technology to third countries. In this context, we believe that the early entry into force and the securing of the universality of the CTBT should be a high priority of the disarmament agenda. My Government is proceeding with its domestic procedures for the ratification of the CTBT next year. At the same time, we welcome the decision made at the Conference on Disarmament in Geneva last month to establish an ad hoc committee on the Fissile Material Cut-off Convention. We also call upon all nuclear-weapon States faithfully to comply with their obligations to undertake nuclear disarmament pursuant to article VI of the NPT. We stress once again that the Democratic People?s Republic of Korea, as a State party to the NPT, should fully comply with the International Atomic Energy Agency (IAEA) safeguards agreement. It should also carry out its obligations to freeze its nuclear activities and eventually dismantle the related facilities in accordance with the Geneva Agreed Framework. In particular, it should cooperate closely with the IAEA in preserving necessary information related to its past nuclear activities. Furthermore, we urge the Democratic People?s Republic of Korea to demonstrate its sincerity in upholding the Agreed Framework by guaranteeing full transparency with regard to the recently discovered underground facilities near Yongbyon. For its part, my Government will make continued efforts, together with the United States, Japan and other parties concerned, for smooth progress in the Korean Peninsula Energy Development Organization (KEDO) project, pursuant to the Agreed Framework. As the KEDO project contributes to the peace and security of the region, we look forward to continued political and financial support from the international community. We also believe that both Koreas should renew their efforts to implement the Joint Declaration on the Denuclearization of the Korean Peninsula of 1992. 13 My Government shares the grave concern of the international community over the launching of the rocket- propelled object by the Democratic People?s Republic of Korea on 31 August. The Democratic People?s Republic of Korea?s ability to develop delivery means of weapons of mass destruction poses a serious threat to peace and security on the Korean Peninsula and in North-East Asia. The international community should make concerted efforts to induce the Democratic People?s Republic of Korea to refrain from conducting further missile development, testing and exporting. Chemical and biological weapons are another category of weapons of mass destruction that requires our serious attention. We commend the valuable achievements of the Organization for the Prohibition of Chemical Weapons over the last year and a half. Regrettably, a number of countries presumed to possess chemical weapons, including the Democratic People?s Republic of Korea, have not yet acceded to the Chemical Weapons Convention. We urge those States to do so without delay. My delegation also hopes for an early adoption of the Verification Protocol to the Biological Weapons Convention. In recent years, we have seen the United Nations peacekeeping operations expand their activities to such areas as repatriation of refugees, demilitarization and disbanding of armies, and the policing and monitoring of elections. While this trend can be viewed positively, my delegation is deeply concerned about the increasing number of victims among civilian volunteers and United Nations personnel. The Republic of Korea, while serving as a member of the Security Council last year, initiated a Council open debate on protection for humanitarian assistance to refugees in conflict situations, which led to the adoption of a presidential statement. We hope that the Secretary-General?s report on this topic, released this week, will renew the international community?s awareness of this issue and lead to concrete follow-up measures. My delegation is deeply disturbed by the recent increase in brutal international terrorist activities. The Republic of Korea will not tolerate any acts of terrorism, and urges all Member States to cooperate in devising effective international measures to combat terrorism. On the threshold of the new millennium, the international community is encountering an increasingly complex set of challenges to peace and security. At this critical juncture, the Security Council needs to reform itself to adapt to the drastically changed international environment. The Republic of Korea fully supports an expanded, more representative and democratic Security Council. However, no Security Council reform package will be feasible without universal support among Member States. In this regard, we hope that the Council reform package will be worked out on the broadest consensus possible, far exceeding the mandatory endorsement by two thirds of the members of the General Assembly. In this context, we note with appreciation the efforts of the Working Group on Security Council reform to seek a realistic and practical solution which should enjoy general agreement among Member States. My delegation welcomes the reform efforts that Secretary-General Kofi Annan has made since taking office. The Republic of Korea has consistently supported the Secretary-General?s reform initiatives and will continue to do so in our common efforts to revitalize the Organization in the years ahead. We hope that the Millennium Assembly, to be held in the year 2000, will serve as an opportunity to crystallize the visions and strategies needed to meet the challenges of the twenty- first century. We look forward to the twenty-first century with great expectations. The time ahead of us will undoubtedly pose daunting challenges. Of this, I am certain. But it also promises a bright future if we, together, can successfully rise to the occasion. The United Nations is a tool and a forum; it is a symbol — the best that we have — of our joint commitment to making the next century more secure, more humane and more hopeful than the last one. The Republic of Korea, together with other Member States, stands ready to make its due contributions towards these lofty goals.