Lee Visits India

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President Lee Myung-bak attended a Korea-India summit in New Delhi on January 25, in our view enhancing South Korea's regional profile. President Lee and Indian Prime Minister Manmohan Singh agreed to enhance bilateral relations and develop a 'strategic partnership'. The two leaders pledged to take advantage of the Comprehensive Economic Partnership Agreement, signed last year, and increase bilateral trade to US$30bn by 2014. Additionally a memorandum of understanding was signed on cooperation in the development of space and information technology.