By Chung Min-uck
President Park Geun-hye held a summit Friday with Laotian President Choummaly Sayasone which centered on expanding economic cooperation between the two countries.
According to Cheong Wa Dae, the two leaders discussed ways of combining South Korea's advanced technologies with the rich natural resources of the Southeast Asian country.
Also discussed was increasing Seoul's participation in new infrastructure projects there, officials said. Laos has rich water resources and is attempting to build more hydropower plants.
The two leaders also discussed ways to better share Seoul's experience of economic development. They signed a set of memorandums of understanding (MOU) through which Seoul will provide $200 million for an economic development cooperation fund (EDCF) loan to Laos from 2014 to 2017.
Also signed was an MOU on cooperation in efforts to preserve the world heritage site in the southwestern Laotian province of Champasak. Under this agreement, the two sides plan to work together to preserve and restore cultural assets in the province, the office said.
"The visit by the Laotian president is in line with our government's diplomatic policy of favoring Southeast Asia," said a Cheong Wa Dae official. "Among 10 Southeast Asian countries, President Park has held summits with all except for Malaysia and Cambodia, which recently launched new administrations after elections."
Choummaly arrived in Seoul on Thursday for a three-day visit. The trip marked the first-ever visit to South Korea by a Laotian leader since the two countries reopened diplomatic relations in 1995. Their ties were initially forged in 1974, but were cut off a year later after the Southeast Asian nation was communized.
Meanwhile, experts say the presidents must also have exchanged views on the issue of North Korean defectors during the summit.
Tensions between the two countries intensified earlier this year after the Laotian government repatriated nine North Korean defectors to their reclusive homeland, despite Seoul's request that it not do so.
People who attempt to defect from the North usually face severe punishments, including execution, after their return.
Laos is a major transit point for North Korean defectors, who flee their homeland through China with the aim of eventually going to the United States or South Korea.
Laos and North Korea established diplomatic ties in 1974 and have maintained a close relationship, particularly on the issue of trading military weapons.
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| President Park Geun-hye offers to shake hands with Laotian President Choummaly Sayasone before a summit at Cheong Wa Dae, Friday. / Yonhap |
According to Cheong Wa Dae, the two leaders discussed ways of combining South Korea's advanced technologies with the rich natural resources of the Southeast Asian country.
Also discussed was increasing Seoul's participation in new infrastructure projects there, officials said. Laos has rich water resources and is attempting to build more hydropower plants.
The two leaders also discussed ways to better share Seoul's experience of economic development. They signed a set of memorandums of understanding (MOU) through which Seoul will provide $200 million for an economic development cooperation fund (EDCF) loan to Laos from 2014 to 2017.
Also signed was an MOU on cooperation in efforts to preserve the world heritage site in the southwestern Laotian province of Champasak. Under this agreement, the two sides plan to work together to preserve and restore cultural assets in the province, the office said.
"The visit by the Laotian president is in line with our government's diplomatic policy of favoring Southeast Asia," said a Cheong Wa Dae official. "Among 10 Southeast Asian countries, President Park has held summits with all except for Malaysia and Cambodia, which recently launched new administrations after elections."
Choummaly arrived in Seoul on Thursday for a three-day visit. The trip marked the first-ever visit to South Korea by a Laotian leader since the two countries reopened diplomatic relations in 1995. Their ties were initially forged in 1974, but were cut off a year later after the Southeast Asian nation was communized.
Meanwhile, experts say the presidents must also have exchanged views on the issue of North Korean defectors during the summit.
Tensions between the two countries intensified earlier this year after the Laotian government repatriated nine North Korean defectors to their reclusive homeland, despite Seoul's request that it not do so.
People who attempt to defect from the North usually face severe punishments, including execution, after their return.
Laos is a major transit point for North Korean defectors, who flee their homeland through China with the aim of eventually going to the United States or South Korea.
Laos and North Korea established diplomatic ties in 1974 and have maintained a close relationship, particularly on the issue of trading military weapons.
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