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Leaders of Korea and Hungary Hold Summit‚ Pledge Increased Trade

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공표년도

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2009-12-02

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President Lee Myung-bak held a summit with visiting Hungarian President Laszlo Solyom on Tuesday pledging to increase high-level government contacts‚ trade and academic and cultural exchanges aiming to strengthen bilateral relations.
The summit‚ held at the presidential office of Cheong Wa Dae‚ took place as Korea and Hungary celebrate 20 years of diplomatic ties this year.
Another milestone looms in the diplomatic future of the two countries in the form of a major free trade agreement Korea aims to conclude soon with the European Union.
President Lee said the Korea-EU FTA could foster balanced growth among European countries by expanding trade with specific markets in Europe.
Korea initialed the EU FTA in October and officials are working to finalize the deal in the coming months.
Trade has increased from just 4.6 million US dollars back in 1986 to 2.5 billion in 2007.
President Solyom said his country offered a prime environment for Korean businesses to expand‚ not only in the Balkan region but in Europe as well.
Diplomatic ties were formed in 1989 when the Cold War was still raging and the prospect of any contact with governments aligned with the Soviet Union were unimaginable.
Korea sent a secret delegation to Budapest to negotiate diplomatic relations as Seoul was hosting the Summer Olympics in 1988‚ using sports to broaden its diplomatic reach to communist bloc countries.
After Hungary‚ Korea established ties with Poland‚ the former Soviet Union and China.
This time‚ Korea and Hungary are seeking to launch a joint scientific research center while the Hungarian leader sought the construction of a Korean Cultural Center in his country.
Hungary excels in the field of science with 14 Nobel laureates in physics and chemistry.
The summit was capped off with a state dinner at the presidential office in honor of the Hungarian leader.
Also attending the dinner was former Grand National Party Chairwoman Park Geun-hye who traveled to Hungary as a special envoy in August.
Sam Len‚ Arirang News.
Reporter : samlen@arirang.co.kr

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