President Lee Myung-bak arrived in Cannes, France Wednesday to attend the G20 summit after wrapping up a short trip to Russia.

Shortly after his arrival, Lee attended a dinner of the G20 Business Summit where he delivered a keynote speech, and stressed cooperation between private companies and the government is crucial to overcoming the global economic crisis.

Lee said the world economy is in need of a structural and fundamental solution, and business firms need to actively step up recruitment and investment efforts as governments are not able to spend more due to the global financial crisis.

Later in the afternoon on Thursday, Lee will meet with U.N. Secretary-General Ban Ki-moon and hold summit talks with European Council President Herman Van Rompuy and European Commission President José Manuel Barroso.

In the evening, Lee will attend a welcoming ceremony that will mark the beginning of the G20 Summit.