Prime Minister Julia Gillard is flying to South Korea this morning, bound for her first ever Group of 20 (G20) summit since taking over the top job.
Ms Gillard will hold a bilateral meeting with South Korean President Lee Myung-Bak on Wednesday night, before the two-day G20 summit begins in Seoul.
Australian banks are expected to be required to take greater steps to protect themselves from financial storms under a deal to be signed at the leaders' meeting.
It's anticipated the G20 will also come to an arrangement to stop China and other major trading nations from devaluing their currency and imbalancing the global economy.
Australia will up its contribution to the International Monetary Fund, while the body's membership will be expanded to include developing economies such as China and Brazil.
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Ms Gillard will meet with the Canadian and British prime ministers during her time in Seoul. She'll be joined at the G20 summit by Treasurer Wayne Swan.
