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South Korean President’s Visit To Strengthen Trade

South Korean President Lee Myung-bak will make a two-day visit to Cambodia next week, aiming to strengthen bilateral cooperation and boost economic investment.

South Korean businesses have played a major role in recent economic development in Cambodia, but the global downturn has curtailed their investments.

Lee is scheduled to arrive Oct. 22, at the invitation of Prime Minister Hun Sen, and will have a royal audience with King Norodom Sihamoni, a spokesman for the Ministry of Foreign Affairs said. He will also pay courtesy calls on Senate President Chea Sim and National Assembly President Heng Samrin, and have official talks with the premier.

"Lee’s visit to Cambodia is crucial for the economy and for the people of the two countries,” the spokesman, Koy Koung, said.

The two countries will sign an agreement on extradition and will approve a framework for loans and economic development through 2012, he said.

Other agreements to be signed include those on cooperation between both chambers of commerce, co-production of broadcast programming, mineral exploration, plantation investment and climate change.