President Lee Myung-bak attended the Pittsburgh G20 Summit on September 25(local time) and warned against hasty exit strategies, which could invite a "double-dip recession."
 
The President said exit plans should come after thorough internal verification and analyses, and should be coordinated with the International Monetary Fund.

Meanwhile, the leaders of the G20 nations, which account for 85 percent of the world's gross domestic product, adopted a joint statement calling for the G20 meeting to be the central forum to lead global economic cooperation.

The leaders also agreed in the statement that the process of economic recovery remains incomplete. "In many countries, unemployment remains unacceptably high. The conditions for a recovery of private demand are not yet fully in place. We cannot rest until the global economy is restored to full health," said the statement.

The leaders also called for the World Bank to generate an increase of at least 3 percent of voting rights for developing and transition countries.

Korea will host the Group of 20 Summit in November next year according to a decision reached at the third G20 Summit meeting. "The unanimous decision to have Korea host the November 2010 meeting was reached by the G20 leaders, thanks to the Korean people's keen desire," President Lee said at a joint press conference.

Canada will host the fourth meeting in June 2010, and Korea will host the fifth. The previous three rounds were held in Washington, D.C. (Nov. 2008), London (Apr. 2009), and Pittsburgh respectively.
 
The June G20 summit in Canada, which will be held along with the G8 summit, will be co-hosted by Korea and Canada, upon the Canadian Prime Minister's request, President Lee said.