OSLO (Yonhap) -- President Lee Myung-bak arrived in Norway Monday for economic cooperation talks with Prime Minister Jens Stoltenberg, especially about new shipping lanes in the Arctic region and resource development.
Officials said Arctic sea routes, which are opening as ice continues to melt, will bring Asia and Europe significantly closer by cutting travel distances by about 40 percent from the existing roundabout routes, and will serve as a fresh impetus for Northeast Asian economies.
The Arctic region is also rich in resources, such as oil, gas and rare earth materials.
The visit to Oslo will include a speech at the University of Oslo about bilateral relations and peace and prosperity, a meeting with Crown Prince Haakon, talks with parliamentary leaders and round table discussions with business leaders, the office said.
Lee also plans to hold round table discussions with business leaders of the two countries.
Norway is South Korea's biggest trading partner in northern Europe.
Olso is the third stop in Lee's week-long trip that already took him to Vladivostok for an annual summit of the Asia Pacific Economic Cooperation forum and to Greenland. After Norway, Lee will visit Kazakhstan in the final stop of his trip later this week.