President Lee Myung-bak invited CEOs of global communications, logistics and financial enterprises, such as TESCO and HSBC, to luncheon in London on Apr. 3. During the luncheon, he explained to them the results of the G20 Leaders'' Summit on Financial Markets and the World Economy and Korea''s response to the worldwide economic crisis, while asking them to expand investment in Korea.
The luncheon meeting was attended by about 20 CEOs of global enterprises, such as
Standard Chartered CEO Peter Sands, Lloyd''s of London Chairman Peter Levine, HSBC Chairman Stephen Green, WPP Group CEO Martin Sorrell, and TESCO CEO Terry Leahy.

Lee said that the second G20 summit of national leaders succeeded in reaching concrete agreement. Korea has been making active efforts to cope with the economic crisis through economic stimulus package, focusing on expanding supply of foreign currency liquidity, drastically cutting the benchmark interest rate, creating more new jobs, and stimulating domestic business, he added.

He said Korea has set out a vision of "low carbon, green growth" as a new national development strategy and is determined to create 960,000 new jobs by injecting 50 trillion won (US$1=W1,341) by 2012. He also said the "Green Recovery" policy set forth by British Prime Minister Gordon Brown is very similar to Korea''s "low carbon, green growth" policy and added that focusing on green industry will provide important momentum to strengthening cooperation between the two countries.

Lee especially reiterated that Korea''s economic fundamentals are strong, given the financial soundness of the country''s banks and enterprises and its sufficient foreign currency reserves. He went on to ask the British business leaders to invest more in Korea, the "most open economy in Asia," where a foreign investor-friendly atmosphere has been created.