Authorities have increased security in the South Korean capital to ensure the safety and success of the event.

South Korea deployed a 50 thousand strong security force to protect the meeting venue.

In the wake of recent security alerts regarding cargo assignments, South Korean authorities say they also stepped up monitoring of all deliveries going into G20 areas.

Kim Joo-Young, South Korean police inspector, said, "Recently, actual terror alerts occurred targeting European leaders, so we are strengthening the X-ray inspection one level higher on mail handling."

Security levels have been raised to the highest in Seoul's Incheon International airport.

Kim Hee-Soon, Chairman of South Korean Special Mission Association, said, "This is a very important event that we're leading the world after more than half a century of painful history. As chair country of the G20, we're here to support as one of the people of South Korea and wish success for the event."

The G20 Summit is being held in Asia for the first time. Leaders are widely expected to express support for a proposal to give developing countries more voting power at the IMF and more seats on the board of the key global lender.