Toronto to host 2010 G20 summit

SEOUL, Dec. 7 (UPI) -- Toronto has been chosen to host next year's Group of 20 summit, the heads of Canada and South Korea announced Monday.

The summit is to be held June 26-27 in Toronto, Canadian Prime Minister Stephen Harper and South Korean President Lee Myung-bak said after meeting in Seoul.

Preliminary plans called for the G20 summit to dovetail with the G8 summit next June in the District of Muskoka, north of Toronto, but it became clear Muskoka would be unable to accommodate the estimated 10,000 participants and media expected for the G20 summit, The Globe & Mail reported Monday.

The G8 comprises eight major industrialized nations, including the United States and Russia.

The G20 comprises developed and developing nations, including Canada, South Korea and Indonesia.

Of the two groups, the G20 has emerged as the more effective body for coordinating a worldwide response to the global economic crisis.