By Lee Tae-hoon

Korea and Peru will upgrade their bilateral relations to a “comprehensive strategic partnership,” a Cheong Wa Dae official said Tuesday as he held a briefing about Peruvian President Ollanta Humala’s state visit to Korea.

“President Lee Myung-bak will hold a summit with President Humala next Thursday on a range of issues, including the possibility of strengthening substantial bilateral cooperation in trade and investment, resources and energy, and development,” the official said.

“The upcoming summit is expected to elevate the two countries’ relationship to the comprehensive strategic partnership level.”
The Peruvian leader will arrive in Seoul on May 10 for a three day visit during which he also plans to attend the opening ceremony of the World Expo in Yeosu, tour a petrochemical complex in the southeastern city of Ulsan and attend an investment session by Korean firms.

It will be Humala’s first state visit here since he took office in July last year.

Korea and Peru forged official diplomatic relations in April 1963.

Korea’s exports to the South American country reached $1.37 billion last year on the back of strong sales of its automobiles and electric appliances.

Korea’s imports from Peru stood at $1.95 billion in 2011 with constant demands for its natural resources such as iron, copper and zinc.
Some 1,200 Koreans reside in Peru, according to the foreign ministry.

Lee and Humala had their first summit on Nov. 9 last year in New York on the sidelines of the United Nations General Assembly.