Lee calls for expansion of economic exchanges with Sweden

By Byun Duk-kun
STOCKHOLM, July 13 (Yonhap) -- South Korean President Lee Myung-bak called Monday
for increased economic ties between his country and Sweden that he says have
considerable potential for future growth.
"Although the amount of trade and investment between the countries is still not
that big, it is growing steadily, and I hope the government and business leaders
of Sweden will help increase our exchanges," the president said in a forum
attended by some 30 top business executives from South Korea and the European
country.
Lee and Swedish Prime Minister Fredrik Reinfeldt in a summit held here announced
the conclusion of negotiations for the South Korea-EU free trade agreement. South
Korean officials say this means the trade accord has virtually been struck.
Lee noted the economic relationship between South Korea and Sweden is steadily
improving as their bilateral trade volume increased from US$1.8 billion in 2006
to $2.2 billion last year, but added there was room for more cooperation.
Automobile, IT and energy industries are some of the areas in which the two
countries could greatly benefit through bilateral cooperation, Lee said.
"There will be a great synergy if we combine the countries' strengths, such as
Sweden's mobile telecommunications technology and South Korea's IT
infrastructure, to develop new technology and set up new international
standards," he said.
Earlier, Hans Vestberg, CEO of the Sweden-based telecom giant Ericsson, said his
company will invest $1.5 billion over the next five years in South Korea, making
it a test bed for the company's latest information and communications technology.
bdk@yna.co.kr
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