(Photo 1 : President Lee at the G20 summit in London on Apr. 2. )

The leaders of the G20 nations decided on Apr. 2 (London time) to support a US$1.1 trillion program to restore credit, growth and jobs throughout the world economy in the 29-point joint agreement.
They agreed to treble resources available to the IMF to $750 billion, support a new Special Drawing Rights (SDR) allocation of $250 billion, support $100 billion of additional lending by Multilateral Development Banks, ensure $250 billion of support for trade financing, and use the additional resources from agreed upon IMF gold sales for concessional finance for the poorest countries.

Leaders including President Lee, Prime Minster Brown, President Sarkozy, Prime Minister Merkel, IMF head Kahn hailed the summit as an outstanding success that would save the spiraling world economy.

"For the poorest countries, this will be crucial. The world will be watching," UN Secretary General Ban Ki-moon said. "I welcome the commitment from G20 leaders to resist protectionism and to monitor compliance,” he also said.

The agreement, specifically, covered ways to restore growth and jobs, strengthen financial supervision and regulation, foster global financial institutions, resist protectionism, ensure a fair and sustainable recovery and deliver the leaders'' commitments.

After the summit, President Lee Myung-bak visited the Korean press center at a London hotel and explained the summit''s results.

( Photo 2 : The G20 leaders pose for a photo before the summit opens. )

"Korea will become the single chair of the G20 meeting next year, so I tried hard to present Korea''s various strategies to overcome the economic crisis," Lee said.

He said that many countries had positively evaluated Korea''s role at the G20 meeting and the country''s suggestions. Many points raised by Korea have been reflected in the joint statement, he explained.

If the agreement is followed successfully, the world economy will push through the unprecedented financial crisis of the 21st century through international cooperation, Lee said.

He also said the agreement, made both by advanced and emerging economies, had historic significance and would greatly support the world economy''s revival.

Korea has been suggesting that active support for emerging and developing economies to stave off the problems of low foreign reserves liquidity and insufficient trade financing will help growing countries and the world economy as well, Lee said.

The G20 leaders pledged to make available $850 billion of resources to support growth in emerging markets and developing countries, by helping them to finance counter-cyclical spending, bank recapitalization and infrastructure.

The President, before and throughout the London meeting, emphasized anti-protectionist measures and fiscal spending expansion, many of which were reflected in the joint agreement.

"The government will work strenuously for job creation and efficient budget spending. It will do so more effectively and earlier than any other government," President Lee said to the press.

He added that the government would also get actively involved in international cooperation for the global economy''s recovery and prepare well for a post-crisis era with much enhanced competitiveness.