S Korean president visits Cambodia to strengthen bilateral ties

PHNOM PENH, Oct. 22 (Xinhua) -- South Korean President Lee Myung-bak arrived here on Thursday to start his two-day visit to Cambodia at the invitation of Cambodian Prime Minister Hun Sen.

The official welcoming ceremony will be held at the Royal Palace by King Norodom Sihamoni.

During his stay, Lee Myung-bak will receive a royal audience by Cambodian King Norodom Sihamoni, hold the bilateral summit meeting with Prime Minister Hun Sen, and both of them will also witness the signing of a host of bilateral agreements. At the same time, Lee will also visit a South Korea's company here and the world famous tourism site Angkor Wat in Siem Reap.

It is Lee's first visit to the Kingdom since he became president in February last year.

The relationship between Cambodia and South Korea has developed steadily. South Korea now becomes the second largest foreign investor in Cambodia. According to local media reports, South Korea's investment in Cambodia increased more than 70 fold from 33million U.S. dollars in 1997 to 2,480 million U.S. dollars in 2008, and the bilateral trade volume rose to 310 million U.S. dollars in2008 from 50 million U.S. dollars in 1997. Moreover, South Korean tourists were on top of foreign arrivals to Cambodia from 2004 through 2008.

After Cambodia, Lee will also attend the annual East Asia Summit to be held in Hua Hin, Thailand, back-to-back sessions of the 15th ASEAN Summit set on October 23-25, that involves the ASEAN

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