[East Asia Summit] Lee Myung-bak, SKorea's 'Economic President'

President Lee Myung-bak was elected on December 19th, 2007 and was sworn in as the 17th President of South Korea on February 25, 2008. President Lee is enough to be called an 'economic president.'

Before entering into politics, Lee wrapped up a successful career in the private sector. After graduating from university with a degree in business administration, he joined Hyundai Engineering and Construction as an entry-level employee.

Soon after joining the company, his hard-working style, his determination and limitless creativity all led him to be promoted through the ranks and he became CEO of the company after only twelve years, making him one of the youngest CEO's at that time.

Lee also showed a positive drive in his political life. In 2002, he declared his intention to run for the Seoul mayoral race and was elected as a mayor, overcoming earlier doubts from many experts that he would lose the race.

As Mayor of Seoul, he embarked on an ambitious plan to rejuvenate Seoul, a vast metropolis with a population of roughly ten million.

After becoming the presidential nominee of the Grand National Party, Lee won the presidential election on December 19, 2007, after securing more than 48.7% of the total votes cast.

On the economic front, Lee has carried out various regulatory reforms and will continue to do so, thus making South Korea a truly business-friendly country. While lots of U.S. companies went into bankruptcy amid the global financial crisis, he prevented the South Korea's economy from being badly damaged.

Lee recently called on the country to use the hosting of the Group of 20 (G-20) economic summit next year as an opportunity to elevate South Korea's status in the international community. At the Pittsburgh meeting, the G-20 leaders agreed to hold their fifth forum in Korea in November 2010.

"We are now facing a historic turning point. We must take this opportunity to upgrade the country's status and advance with the rest of the world by successfully hosting the G-20 summit," he was quoted as saying in a special press conference on the outcome of his recent participation at the third G-20 economic summit in Pittsburgh.

As a president, Lee has chosen 'Green Growth' as the new national vision for Korea from 2008. This vision will create jobs, protect the environment and prepare Korea for the 21st century.

On the international stage, President Lee has stated that he will steer Korea so that it becomes more engaged with the international community, partaking in the global efforts to fight terrorism and climate change, eradicate poverty and reduce tension in the region.

His pragmatic approach to North Korea will also usher in a new era of peace and stability on the Peninsula. Through the Six Party Talks framework, the North Korea's nuclear issue will be peacefully resolved through vigorous and principled diplomacy.

As an example of such efforts, the president cited his recent 'grand bargain' proposal over Pyongyang's nuclear programs.

The new package deal envisions a sweeping barter between the North giving up its nuclear arsenal and the international community offering a security guarantee and economic aid.

"The crisis will be a good opportunity," Lee says all the time. South Korea now is facing an upturn of its fortunes. The chance to become a leader in the world has come.

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