Korea and Hungary yesterday agreed to cooperate for an early ratification of the Korea-EU free trade agreement and boost bilateral relations in economy, science and culture.

President Lee Myung-bak held a summit with Hungarian President Laszlo Solyom who has been on a four-day state visit since Sunday marking 20 years of diplomatic relations between the two countries.

The two leaders expressed satisfaction with progress for the past 20 years and agreed to further expand substantive cooperation in trade and investment, Cheong Wa Dae sad.

Lee expressed hopes for increased visits by high-level officials, cultural and academic exchanges and tourism cooperation, the office said.



President Solyom stressed the need for scientific cooperation including the establishment of joint research institutions.

Hungary is one of leading countries in basic science, with 14 Nobel laureates in physics and chemistry. Korea has a competitive edge in industrial technologies especially in information and communications.

Reflecting growing cultural exchanges between the two countries, Solyom proposed the opening of a Korean cultural center in Hungary and Lee replied positively, Cheong Wa Dae said.

They also agreed to make efforts for ratification of the Korea-EU FTA, which they said would benefit both sides by increasing trade and investment.

In October, top trade officials from Seoul and Brussels initialed the trade deal, which is expected to boost bilateral trade by $28 billion. It is expected to take effect in mid-2010.

Hungary, located in central Europe and achieved a successful market economy reforms, is one of Korea`s bridgeheads to East Europe.

About 50 Korean companies are operating in the country, investing nearly 1.8 trillion won ($1.54 billion) this year.

Lee also explained his policy to denuclearize North Korea. The former socialist country still maintains close ties with Pyongyang.

Solyom expressed his support for Lee`s efforts to promote peace and economic development on the peninsula, Cheong Wa Dae said.

The two leaders also discussed climate change, the economic crisis and other global issues.

This is Solyom`s second visit to Seoul following one he made as chief of the constitutional court in 1996.

The Hungarian leader yesterday met with some 90 Korean business leaders and received an honorary doctorate degree from Yonsei University for his contribution to democratization, civil rights and environmental protection in his country.

Solyom will wrap up his visit today after a meeting with National Assembly Speaker Kim Hyong-o.

(jjhwang@heraldm.com)





By Hwang Jang-jin