South Korean President Lee Myung-bak on Friday declared the G20 Seoul Summit ended in success.

"I am happy to be able to implement all the agreements reached in Toronto," said Lee, praising that the leaders have reached an agreement, or the so-called Seoul Action Plan.

As for the indicative guideline, the president also highlighted that the leaders marked a step forward, agreeing to have " indicative guidelines" composed of a range of issues.

The communique also urged the Framework Working Group to develop indicative guidelines by the first half of 2011.

According to the president, the leaders made progress in that they hammered out the time frame.

"I am happy that we, as chair have completed our role successfully," Lee added.