President Yoon Suk Yeol will co-host the U.S.-led Summit for Democracy with the leaders of the United States, Costa Rica, the Netherlands and the Republic of Zambia.

The second Democracy Summit will be held on Wednesday and Thursday, with President Yoon hosting a virtual session on prosperity with economic growth on the first day.

Yoon's office said that it is meaningful that South Korea is taking the lead in resolving the global issue of the regression of democracy.

The top office said that the summit will serve as an opportunity for the president  to enhance the country's policy credibility by showing the international community how he is implementing his vision of freedom and solidarity.

On the second day of the summit on Thursday, South Korea will preside over the Indo-Pacific regional meeting – which will be held face-to-face – on the topic of anti-corruption.

The first Democracy Summit was virtually held in December 2021, hosted by U.S. President Joe Biden with the leaders of about 100 countries in attendance. This year's summit will see the participation of about 120 world leaders.