The President and Australian Prime Minister Kevin Rudd held a summit meeting on Saturday (Nov. 14) and agreed on implementing the outcomes of the Pittsburgh meeting of the G20. 

Lee and Rudd both said that the Pittsburgh G20 meeting paved the way for solving problems that the world economy faces, and helped establishing detailed plans for sustainable and balanced growth. They both were especially satisfied with the fact that their joint framework and exit strategies had been taken into consideration.

The two leaders then also agreed to work together to promote international cooperation in endorsing such plans when the world economy recovers next year.

Both Lee and Rudd decided to cooperate more closely for more balanced growth and governance transformation in international economic organizations at the next G20 meetings in June and November 2010.

President Lee claimed that as chair country of next year''s G20 annual summit, Korea will institutionalize the premier forum for international economic cooperation, and will seek to bolster its cooperation with non-G20 nations.