The 19th Asia-Pacific Economic Cooperation (APEC) Summit opened in Honolulu, Hawaii on Sunday, local time, with a goal to create a "seamless regional economy."

Asia-Pacific leaders have begun discussions on trade liberalization, regulatory reform, green growth and ways to expand and integrate the Asia-Pacific regional economy.

In the first summit session on growth and jobs, President Lee Myung-bak introduced South Korean government measures such as microfinancing and the fostering of social enterprises as a way to combat economic growth without job creation.

In a speech during a working luncheon, the president also called for stronger corporate competitiveness through creativity and innovation and regulatory reform.

He briefed other leaders on Seoul's efforts at deregulation through the establishment of the civilian-led Presidential Council on National Competitiveness.