Russia, S.Korea urge G20 to act on protectionism

Russia and South Korea on Wednesday gave a positive assessment of the G20's actions to overcome the global financial crisis, but said more needed to be done on regulatory reform and protectionism.

"The two countries agreed that the G20 should do more fiscal balancing, financial regulation reform and preventing trade protectionism," said a statement issued by South Korea's presidential office after Russian President Dmitry Medvedev met his South Korean counterpart Lee Myung-bak in Seoul.