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Rediff.com  » Business » Posco: S Korean President seeks India's help

Posco: S Korean President seeks India's help

July 25, 2011 15:52 IST
South Korea President Lee Myung-bak on Monday sought Indian government's "cooperation" in building the $12 billion steel plant in Orissa, in the face of people's agitation over land acquisition for the project.

The issue came up for discussions between Lee and visiting Indian President Pratibha Patil.

"President Lee hoped that the Korean companies expand their participation in construction of infrastructure such as road, power and plant, and called for cooperation of the Indian side in order to realize early 'Posco project' in Orissa state," a statement from Cheong Wa Dae News, President's office, said.

"Both leaders agreed to cooperate in order to conclude discussion on the on-going aviation agreement, an agreement on maritime transport and double tax avoidance agreement in the direction of mutual benefits," it said.

The two leaders also discussed ways to further expand bilateral cooperation besides touching regional and international issues.

"Leaders of the two nations evaluated that substantial cooperation between the two countries in diplomacy, security, economy, trade, society and culture has greatly progressed since the bilateral relations was upgraded to 'strategic partnership' in January, 2010, and agreed to expand cooperation particularly in politics, security and the defence industry," the statement said.

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