President Moon Jae-in is set to promote the idea of a “virtuous cycle” between peace and the economy at the upcoming G20 Summit in Osaka.

Deputy National Security Adviser Kim Hyun-jong told reporters on Tuesday that Moon will explain to G20 leaders Seoul’s efforts to completely denuclearize the Korean Peninsula and establish permanent peace in Northeast Asia. 

Kim said the president will also relay Seoul’s aim to usher in an era where peace leads to economic development and such development solidifies peace in the region.

During the two-day summit Friday and Saturday, Moon is scheduled to hold one-on-one talks with the leaders of China, Russia, Indonesia and Canada on a wide array of topics, including Korean Peninsula issues and bilateral relations.

However, a senior official at the top office said a South Korea-Japan summit is unlikely to be held on the sidelines of the G20 gathering. According to the official, South Korea is ready for such talks but Japan apparently is not.