[Unofficial Translation]

My Lord Mayor, Your Royal Highnesses, Your Excellencies, My Lords, Aldermen, Sheriffs, Chief Commoner, honoured guests,

I am truly grateful for the warm hospitality extended to me and my delegation.

I would like to first congratulate Lord Mayor Michael Mainelli on his inauguration. At yesterday’s State Banquet hosted by His Majesty Charles III, I said it was an honor to become the first state guest since his coronation. It is also a great pleasure to attend the first banquet held since Lord Mayor Mainelli has taken office. Let’s all congratulate the Lord Mayor on his inauguration.

The global think-tank Z/Yen, which Lord Mayor Mainelli founded 30 years ago, has been ranking 120 cities around the world annually by publishing the Global Financial Centres Index. The index has become a crucial yardstick for measuring international financial competitiveness.

In light of the City of London’s position as the world’s premier financial hub, I believe he is exceptionally well-suited for the role of Lord Mayor. His profound understanding of the business environment and keen insight into future competitiveness uniquely qualifies him for this responsibility. I look forward to the Lord Mayor utilizing his expertise to play a significant role in fostering closer economic and financial cooperation between Korea and the United Kingdom.

Ladies and gentlemen,

I would like to express my heartfelt gratitude to someone present here – His Royal Highness The Duke of Gloucester. He represents the Gloucestershire Regiment that fought heroically during the Korean War. Koreans have never forgotten the Glorious Glosters’ distinguished service and dedication. We are indebted to them for the free and prosperous Republic of Korea that we enjoy today. On behalf of the Korean people, I would like to express our heartfelt gratitude once more.

Distinguished guests,

This year marks the 70th anniversary of the armistice of the Korean War and the 140th anniversary of diplomatic relations between Korea and the United Kingdom. In four days, we will celebrate the anniversary of the establishment of diplomatic relations between our countries. Forged in blood during the Korean War, our friendship is growing stronger and deeper as time passes. It is like this magnificent Guildhall, preserving its long history while enhancing its elegance over time.

Today, I’d like to reflect on our robust friendship and talk about the mission of the times – to further advance our bilateral relations. The international community has recently faced an unprecedented polycrisis. With the wounds from the COVID-19 pandemic still fresh, supply chain fragmentation and rising geopolitical risks have been joined by inflation, food and energy crises and financial market instability to shake the entire global economic landscape. Furthermore, the climate crisis and intensifying competition in the technology sphere are increasingly widening the gaps between countries. To help the international community overcome these challenges and become freer and more prosperous, the Republic of Korea and the United Kingdom must cooperate closely.

As the birthplace of the free-market economy and modern democracy, the United Kingdom is a global powerhouse that has dedicated itself to defending freedom and peace worldwide. I salute the citizens of the United Kingdom and those with us here who have built such a remarkable country. Thanks to the support of the international community, such as the Gloucestershire Regiment that fought in the Korean War, the Republic of Korea overcame the scars of war and has been pursuing prosperity through freedom and peace based on a market economy and democracy.

When I was sworn in as President last year, I declared my vision of Korea becoming a global pivotal state. As the first nation to advance from an aid recipient to a donor country, the Republic of Korea is sharing our development experience with developing countries and underdeveloped regions and significantly expanding our Official Development Assistance. We are also at the forefront of spreading the universal values of democracy, human rights and the rule of law around the world. Just as the United Kingdom has done for hundreds of years, the Republic of Korea is moving forward to contribute responsibly to freedom, peace and prosperity in the international community. As the United Kingdom and Korea forged a friendship in blood and share universal values, we will make optimal, trustworthy partners.

Distinguished guests,

Now, I stand at the heart of the City of London, which not only boasts the capital’s oldest history but also serves as the pulse driving the most modern and cutting-edge advances that shape the future of the United Kingdom. This is the perfect place for Korea and the United Kingdom, with our long and historic friendship, to discuss a prosperous future together.

Today, Prime Minister Sunak and I signed the Downing Street Accord, the highest-level document on cooperation that our two countries have concluded to date. It is a comprehensive plan for cooperation covering all areas from security and national defense to economic security, such as cutting-edge science and technology, the securing of supply chains and energy-related solidarity.

Though this is the last night of my visit to the United Kingdom, this agreement and the relationships forged with all of you tonight will usher in a new era for our countries.

I express my gratitude to the Lord Mayor for his hospitality once more. I propose a toast to the health of everyone here, including the Lord Mayor and his wife, and to the eternal friendship and continued success of the United Kingdom and Korea.

“The Lord Mayor and the City of London Corporation”