The Organization for Economic Co- operation and Development (OECD) World Forum kicked off on Monday in South Korea's southeastern port city of Busan.
While addressing the opening ceremony of the forum, South Korean President Lee Myung-bak called on global leaders to make more efforts to develop a new growth pattern.
Lee said the current pattern of economic development can no longer bring more happiness to people or help settle problems facing the international community, according to local media.
South Korea is actively participating the global efforts to overcome the ongoing economic crisis, and help set up a new world order, Lee said.
Lee also promised that his country will continue to contribute to the efforts to establish a new development pattern by sharing its own experience with other countries to meet the goal of the joint development.
The president also stressed the climate change issues should be dealt with by efforts from the entire world.
He said he hoped the forum will be a favorable platform that the participants can exchange views and share wisdom and experience to build a joint vision for the future.
The four-day forum, marking the third event, jointly held by South Korea's National Statistical Office (NSO) and the Organization for Economic Cooperation and Development, brought global leaders, renowned economists and members of the business community.
The forum was first launched in 2004 in pursuit of more accurately measuring economic growth and development in both advanced and developing countries.
This year's forum in Busan is held under the theme "Charting progress, building visions and improving life."
With renowned Nobel Prize winner Joseph Stiglitz expected, the gathering is likely to attract around 2,000 people from some 100 countries.