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S. Korean, Laotian FMs discuss ways to expand bilateral trade, investment

All News 16:26 August 29, 2021

SEOUL, Aug. 29 (Yonhap) -- The top diplomats of South Korea and Laos have discussed ways to strengthen cooperation and expand investment during their talks in the Southeast Asian country earlier this week, the foreign ministry said Sunday.

The talks between Foreign Minister Chung Eui-yong and his Laotian counterpart, Saleumxay Kommasith, came as Seoul strives to advance its New Southern Policy aimed at deepening diplomatic and economic cooperation with the Association of Southeast Asian Nations (ASEAN).

During their talks on Saturday, Chung called for active support from the Laotian government to address the challenges South Korean companies face in the country and urged keen interest to promote their participation in local infrastructure projects.

Saleumxay urged expanded investment from South Korean firms, stressing that Seoul is the fifth-largest investor in Laos.

Chung also extended his appreciation for the Laotian government's consistent support toward the Korea peace process, the ministry said.

This marks the first time in nearly 20 years since South Korea's foreign minister officially visited Laos for bilateral talks in 2002.

Foreign Minister Chung Eui-yong (L) and his Laotian counterpart, Saleumxay Kommasith, pose for a photo before their talks in Laos on Aug. 28, 2021, in this photo provided by the foreign ministry the following day. (PHOTO NOT FOR SALE) (Yonhap)

julesyi@yna.co.kr
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