S. Korea, India to hold summit on upgrading ties

By Lee Chi-dong
NEW DELHI, Jan. 25 (Yonhap) -- South Korean President Lee Myung-bak and Indian
Prime Minister Manmohan Singh were to hold a summit here later Monday that would
set another milestone in their countries' rapidly developing relations both
economically and politically, Lee's office said.

Lee began a four-day state visit to India Sunday, the first trip here by a South
Korean leader since 2004. It is also Lee's first overseas travel this year, which
he said reflects South Korea's will to strengthen its relationship with India
acros the board and complete a network of "New Asia Diplomacy." The president
announced a diplomatic goal last year of improving Seoul's relationships with
Asian neighbors.
In the summit, the presidential office Cheong Wa Dae said, Lee and Singh plan to
explore ways to develop bilateral relations already spurred by the two-way
Comprehensive Economic Partnership Agreement (CEPA), a de facto free trade deal,
and exchange views on regional and international issues.
They will issue a 31-point joint statement to sum up their discussions, it added.
"In particular, the leaders of the two sides will discuss ways to upgrade their
current 'long-term cooperative partnership for Peace and Prosperity' established
in 2004," a senior Cheong Wa Dae official told reporters. South Korea forged
diplomatic ties with India in 1973 and their relations have since largely focused
on economy and trade.
Striving to raise its international status, South Korea hopes to expand economic
cooperation with India, an emerging economic powerhouse, and simultaneously
deepen defense and diplomatic ties to deal with regional and global issues. Both
nations are members of the G-20 economic summit, the November session of which
will be held in Seoul.
During Lee's visit, South Korea and India also plan to sign an Agreement on the
Transfer of Sentenced Persons, along with memorandums of understanding on closer
cooperation in science, space program, and information and technology industry.
Prior to the summit, Lee is scheduled to have a breakfast meeting with about two
dozen South Korean business leaders accompanying him. They include Cho Suck-rai,
chairman of the Federation of Korean Industries, Sohn Kyung-shik, chairman of the
Korea Chamber of Commerce and Industry, Hyundai Motor Chairman Chung Mong-koo and
POSCO Chairman Chung Joon-yang.
Hyundai Motor has a factory in Chennai, southeastern India, producing more than
600,000 vehicles a year. POSCO, South Korea's leading steelmaker, is pushing for
a project to build a huge steel plant in the eastern Indian region of Orrisa.
Lee will also meet India's Vice President Mohammad Ansari, Foreign Minister S.M.
Krishna, and political leaders.
lcd@yna.co.kr
(END)

Delete & Prev | Delete & Next