While speaking to in an interview prior to the G20 meetings, Obama also said that the world is looking to the G20 to work together to strengthen the global economic recovery, continue to repair the financial system and promote the stability of global markets. Here are the excerpts:

President Lee and I both recognize the importance of the US-Korea Free Trade Agreement. It has the potential to set the stage for a better, stronger and more fair trade relationship between South Korea and the United States. The goal of this agreement is to generate new economic and business opportunities and create jobs, in both our countries. Our work together on the KORUS FTA will set a high standard for trade agreements in the region and the world. When President Lee and I last met at the Toronto G20 Summit in June, we instructed our teams to make their utmost efforts to resolve outstanding issues and prepare the agreement for legislative approval.

During my visit to the Blue House, President Lee and I will take stock of how far we have come in this joint effort and see if we can achieve even further progress. When I first met President Lee at the White House in June last year, we were committed to building an alliance to ensure a peaceful, secure and prosperous future for the Korean Peninsula, the Asia-Pacific region, and the world. Those words from our Joint Vision encapsulate what both our countries seek to accomplish: building a US-Korean Alliance that can fully meet the demands and the evolving challenges of the 21st century. We are increasing our cooperation on overseas development assistance, sustainable energy, climate change the financial crisis and addressing security issues in the region.

Naturally, we are jointly focused on the security of the Peninsula and the efforts to achieve the full and verifiable denuclearization of North Korea. Our alliance continues to grow, along with the expansion of the warm ties between the Korean and American people.
 

The world is looking to the G20 to work together to strengthen the global economic recovery, continue to repair the financial system and promote the stability of global markets. The United States will do its part to restore strong growth, reduce economic imbalances, and calm markets. But no one country by itself can achieve our common objective of a strong, sustainable, and balanced recovery. We want to work with our G20 partners to ensure that all nations — emerging and advanced, surplus and deficit — do their part to generate a vigorous and well-balanced recovery. We also hope to work through the G20 to strengthen economic governance institutions like the IMF, implement effective financial sector reforms, carry out our earlier G20 pledge to phase out fossil fuel subsidies, and work to reach agreement on the Doha WTO talks.

The Seoul G20 Summit is the first G20 summit to be held in a country that was not a member of the G8, and Korea has shown exceptional leadership on this historic occasion. When the leading economies agreed last year to move discussions of economic policy coordination from the G8 grouping to the G20, one reason was to give emerging economies like the Republic of Korea the opportunity to play a more prominent role in global economic policymaking and bring their particular experiences to bear on the global policy debate. For example, this year Korea has very helpfully highlighted the important role of growth in development. Korea's impressive performance as G20 Chair this year has demonstrated the tremendous benefit and indeed necessity of bringing more countries to the table to work together to address these international economic issues, and I am looking forward to a productive Seoul Summit under the capable leadership of President Lee.
 

First of all, I would like to highlight the strong bond between the United States and the Republic of Korea. This is my second visit to Seoul since I became president, and, this year, our two countries are marking the 60th anniversary of the outbreak of the Korean War. Our deep friendship has been forged through a history of shared sacrifice and we continue to stand together to face threats, globally and regionally. This shared history and strong alliance is the foundation on which our North Korea policy is built.

Eight months ago, 46 sailors aboard the Cheonan lost their lives in an unjustified attack by North Korea. I spoke with President Lee shortly after the attack to convey my deepest condolence and offer America's assistance in any way possible. I reaffirmed that the United States was fully committed to the defense of the Republic of Korea and that our two countries will work even closer than before to counter the North Korean threat. North Korea cannot, and will not, drive a wedge between two longtime friends in Asia; in fact, it has solidified our alliance and unity.

While the Republic of Korea emerged as a prominent regional and global player from the ashes of the Korean War, North Korea has chosen a path of confrontation and provocation, pursuing nuclear and ballistic missile programs. It's clear that such a path runs counter to the best interest of the region and the international community. Since I took office, I have offered North Korea a helping hand. Working with our regional partners, we are prepared to offer North Korea a different future: instead of choosing the isolation that has compounded the suffering of its own people, North Korea could join the international community. Instead of poverty and hunger, North Korea could enjoy economic prosperity and provide a better life for the North Korean people. But in order to take this path, North Korea must abandon belligerent behavior, address the Republic of Korea's concerns, and take irreversible steps toward denuclearization. North Korea must live up to its own commitments in the Six-Party Talks and its international obligations under UN Security Council Resolutions.

The United States and our regional allies and partners stand ready to welcome and assist North Korea when it chooses this path.
 

The United States has an important role in promoting regional stability and America's approach to Asia begins with our alliances. Korea and Japan are two key allies in Northeast Asia and these alliances serve as the foundation for America's engagement in the Asia Pacific region. Americans and South Koreans have safeguarded regional peace and security for the past half century and supported the region's remarkable economic growth. Both of our countries have benefited tremendously from this partnership. Today, we are working not just to sustain our alliance, but to update and broaden our partnership — here and beyond the Korean Peninsula. More broadly, multilateral fora such the G20 meeting, the APEC meetings that begin later this week, the East Asian Summit that was held last month, and the ASEAN Regional Forum all play important roles in promoting integration throughout the Asia-Pacific region.
 

Similar to the Korean people, families are very important to Americans, and I am no exception. Of course there is never enough time for families, but we try to do our best. Michelle and I wanted the girls to have as close to a "normal life" as possible at the White House and I think they're enjoying it — and Bo has a big role to play in that! Michelle and I look forward to all of the time that we get to spend with Malia and Sasha. We like to go to their soccer games on the weekends, and always try to have dinner together so we can talk about their day.