Korean President Lee Myung-bak and Georgian President Mikheil Saakashvili agreed Thursday to seek closer economic ties between the two countries, especially in the areas of trade and development cooperation, the presidential office said.

Saakashvili is the first Georgian president to visit South Korea since the two countries forged diplomatic relations in 1992. The summit took place as he has been in Seoul for the Nuclear Security Summit that ended two days of meetings on Tuesday.

Lee and Saakashvili agreed that relations between the two sides have moved steadily forward for the past 20 years and pledged to seek ways to boost substantial cooperation in economy, trade and development, the office said in a statement.

Lee welcomed Georgia's establishment of its embassy in Seoul in August last year, saying the mission has contributed to enhancing exchanges and strengthening friendly ties between the two countries, while Saakashvili expressed hope for South Korea to share its development experience with his nation, the statement said. (Yonhap)