President Lee Myung-bak left for Mexico on Sunday for a G20 summit with other global leaders expected to focus on the worsening eurozone debt crisis amid worries it could spread beyond the single-currency bloc.
The summit, set for Monday and Tuesday, comes about a week after Spain announced plans to seek a bailout, the fourth nation in the 17-member zone to do so, and a day after Greece holds a crucial election that may result in the country’s exit from the euro.
Greece’s possible exit is feared to roil not only Europe, but also the global economy as well.
Lee plans to discuss with other world leaders tackling the eurozone debt crisis, coordination of macroeconomic policies, strengthening the international financial system, and other challenges during the summit in Mexico’s Pacific coastal city of Los Cabos.
“A main point of discussions will be resolving the eurozone crisis,” a senior presidential official said in a briefing to preview the summit. “Europe’s roles are important in resolving the crisis, but what is also important is policy coordination among G20 nations.”