South Korea and Thailand to upgrade their bilateral ties to ‘strategic partnership’; South Korea pledges to double its ODA fund by 2015
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  • (NOVEMBER 5-11)

    According to reports, during South Korea President Lee Myung-bak’s recent visit to Bangkok, both Lee and Thai Prime Minister Yingluck Shinawatra pledged to upgrade elations between the two countries to a ‘strategic partnership’. During their bilateral summit talks, the two leaders pledged to work together to expand bilateral trade volume to US$30 billion by 2016. They also discussed about exploring the possibility of forging a comprehensive economic partnership agreement (CEPA) in order to strengthen the bilateral economic ties. ).1

    In another development, reports noted that South Korea, in its pursuit to play a key role in devising a new global development cooperation paradigm, has pledged to more than double its economic aid (about US$3 billion) to developing countries by 2015. South Korean Prime Minister Kim Hwang-sik made that announcement during the recent ASEM meeting at Laos. This move reportedly is part of the efforts of the South to give back after previously receiving help from the international community aftermath of the Korean War (1950-1953).2