The President Lee Myung-bak gave a welcome speech at a sherpa meeting held in preparation for the G-20 Financial Summit scheduled for November this year in Seoul.

In his speech, the president underlined the importance of the Seoul summit and called for earnest efforts and contribution from sherpas to make the international gathering a success.

The President, by emphasizing active interest in and contribution for the G-20 Summit, implied that preparations for the meeting have begun on a big scale.

About 100 representatives from G-20 nations, including those from international organizations, attended the meeting. The participants plan to make a review of the major agenda items for the Seoul summit, the general direction of the discussions and future plans.

Based on the joint statement released at the previous G-20 summit in Toronto, Canada, this latest sherpa meeting will discuss on the existing G-20 agenda that includes global economic trends, frameworks, reform of financial regulations, trade, energy as well as a financial safety net and development, all of which was agreed on in Canada.

A sherpa meeting is a closed government meeting. Therefore specific details like when, how long or where it took place are not disclosed.