By Kim Yon-se
Staff Reporter
President Lee Myung-bak started his ``energy diplomacy'' by holding a series of summits with leaders from natural resources-rich countries at Cheong Wa Dae Tuesday.Lee, who took office Monday, met separately with Cambodian President Hun Sen, Mongolian President Nambaryn Enkhbayar and Uzbek President Islam Karimov, all of whom attended Lee's inauguration ceremony. The Cambodian president called on Korea to expand investment in energy development, expressing gratitude for Korea's support in the Cambodian government's establishing a stock exchange.Lee asked the Cambodian leader to provide a favorable business environment for Korean companies, which have made inroads in construction and resource development.The new Korean President also agreed with Uzbek President Karimov, who has special interest in economic ties with Korea, to push joint ventures developing gas fields and to build a gas-chemical complex.Karimov also participated in a signing ceremony for an agreement between Korea Gas Corp. and Uzbekneftegas on establishing a joint venture and construction of the gas processing plant. He also visited GM Daewoo Auto & Technology's manufacturing plant in Bupyeong, Incheon.Lee expressed Korea's willingness to share its experience in economic development and expand substantial cooperation with Uzbekistan.The presidents of Korea and Mongolia agreed that the two countries will expand ties in information technology, biotechnology and energy.For energy-poor Korea, Mongolia offers stable access to cheap natural resources. Sharing historic, cultural and ethnic similarities, Korea and Mongolia have seen a rapid development in their relations since they established diplomatic ties in 1990. More than 20,400 Mongolians are currently living in Korea.``Today's summits are focused on strengthening ties in the energy-resources sector,'' presidential spokesman Lee Dong-kwan said. ``President Lee shared Korean companies' experience in resource development with other Asian leaders.''Lee also exchanged views on bilateral economic cooperation with other Asian countries in his meetings with former Japanese Prime Minister Yasuhiro Nakasone and Indonesian Vice President Jusuf Kalla.He also met with Japanese Democratic Party Chairman Kan Naoto; Deputy Prime Minister Umirzak Shukeyev of Kazakhstan; and Harry Jenkins, speaker of the Australian House of Representatives.Korea has indeed been facing an urgent need to secure wider and larger energy supplies since the foreign exchange crisis in late 1997, when the country's overseas resource development industry began to shrink while oil prices surged.With energy diplomacy, however, the country has been expanding its investment in overseas developments.
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