President Lee Myung-bak said Monday (Feb. 23) that the world economies should pursue a "global deal," or a worldwide fiscal stimulus policy, in order to solve the problems of real economy contraction and job loss en masse.

The President made the remark at "Global Korea 2009," a conference prepared by the Presidential Council for Future and Vision and the National Research Council for Economics, Humanities and Social Sciences in Seoul.

The conference, commemorating President Lee''s first year in office, was set up to discuss Korea''s policy directions in a rapidly changing world, as can be seen by the economic slowdown and climate change.

"I feel confident to say that a ''global deal'' supported by all world economies is the key to solving the international economic crisis," Lee said.

Lee went on to say that Korea is spending 2.5 percent of its GDP on such fiscal stimulus, and stressed that members of the G20 meeting should present their respective spending stimulus plans at the upcoming London summit in April, in order to be coordinated with other members'' plans.

The President strongly warned against trade protectionism, which has been rearing its ugly head recently. He said, "Under no circumstances should newer trade protectionism be tapped by any of the economies."

The first principle to be pursued in global trade now is to activate the financial market with trade and investment increase in the framework of free trade, Lee said.

President Lee also urged the WTO members to resume Doha Development Agenda negotiations at an early date this year, and pledged to devote his country''s energy into green growth initiatives along with other East Asian countries.

The global forum was attended by 700 international figures, including former U.S. Treasury Secretary Robert Rubin, WTO director general Pascal Lamy, New York Times columnist Thomas Friedman and former U.S. Defense Secretary William Perry.

The conference proceeded with four themes: international finance, international trade, climate change and green growth, and international diplomacy and security.