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REPUBLIC OF KOREA:

Amb. Byung Yong Soh noted the progress made so far in implementing Agenda 21 and with the will of governments and the cooperation of the international community, the goals and objectives set by UNCED can be achieved. With regard to the Conference on the Sustainable Development of Small Island Developing States, only parts of the text were agreed upon at the PrepCom and future deliberations should focus on the most crucial themes, such as preservation of precious resources unique to SIDS and their capacity building. The final document of the Conference should be based on Agenda 21 and be completed at the upcoming resumed session of the PrepCom. At the INCD, intensive discussions on the meaning of desertification, drought and drylands, type of regional instruments, financial resources and mechanisms and transfer of technology should be held in the future sessions. The financial mechanism should be developed with respect to its ability to effectively mobilize and utilize the resources. The GEF may be a possible operator of the financial mechanism on an interim basis until the Convention enters into force. Regarding the Conference on Straddling Fish Stocks and Highly Migratory Fish Stocks, the issue should be considered within the framework of the Law of the Sea Convention. Truly effective conservation measures can be achieved through regional or sub-regional organizations based upon cooperation from all participants of both coastal and distant fishing countries. Regulation of large-scale pelagic drift-netting should be undertaken by regional fisheries bodies and not by large international organizations. Korea hopes the Conference completes its work before the 49th session of the General Assembly and discharges its mandate of formulating appropriate recommendations, apart from legally-binding instruments.