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S Korea, U.S. agree on closer co-op to overcome financial crisis
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22:32, October 21, 2008

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· U.S. financial crisis triggered global turmoil
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South Korean President Lee Myung-bakand his U.S. counterpart George W. Bush agreed to have closer cooperation to overcome the financial crisis during their unscheduled telephone talks on Tuesday evening, South Korea's Presidential Office said.

"Bush called Lee at 8:19 p.m. (1119 GMT) to call for closer international policy coordination in order for the world to swiftly recover from the financial crisis and slump in the real economic sector," said presidential spokesman Lee Dong-kwan in a statement.

"In response, President Lee pledged that South Korea will proactively play its role in international policy coordination. The two leaders also shared the view that the globe should not move back to protectionist trade policies, and the principles of the free market economy should not be hindered in the process of overcoming the crisis," said the spokesman.

The conversation lasted for eight minutes, the spokesman said.

Source:Xinhua



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