President Lee Myung-bak is now in Hawaii to join leaders of Asia-Pacific Economic Cooperation member nations on Sunday and Monday.

Leaders at the APEC summit in Honolulu are expected to focus on finding solutions to resolve the current financial turmoil in Greece and Italy and stop them from spreading to other economies.

At a meeting on Sunday local time, Lee plans to point out that international policy coordination is necessary in order to address the issues of low growth and high unemployment stemming from the global economic crisis. He plans to stress that the APEC member nations must establish a virtuous cycle of growth, employment and welfare.

Lee is also expected to propose economic growth-driven job creation through free trade and technological innovation and warn against trade protectionism.

Lee also intends to lead a session on deregulation and competitiveness by introducing South Korea's experience in improving regulations.