South Korean President First Trip to Myanmar in 30 years

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South Korea President Meets Myanmar President

Korean President Mr. Lee Myung-bak visits Myanmar as his first trip by Korean leaders in 30 Years. Lee is visiting Yangon after his China trip and met Myanmar President U Thein Sein today May 14, 2012.

South Korean leader’s visit may have something to do with Myanmar and North Korea relationship. North Korean leader Kim Jong Sang said,”Korea corporate interest in Myanmar has grown since last year on optimism the U.S.-led sanctions would be ease.”

In 1983, the bomb blast killed 21 people, 17 of them South Korean, including four Cabinet ministers and the South Korean ambassador to what was then known as Burma. Chun was not hurt because he was stuck in traffic and arrived a few minutes late at a ceremony to pay tribute to Gen. Aung San, the country’s slain independence hero.

Mr. Lee trip to Myanmar is not only about politic, it’s also about economic. According to Korea Times:

Myanmar is also considered a strategic foothold linking huge markets in nearby China and India. Though one of the world’s poorest nations, with the annual per capita income of US$700, Myanmar has a high literacy rate and could provide cheap, but quality labor for companies. With a population of 58 million, the country could also become a good market itself.

President Thein Sein’s leadership has indicated a charisma desire for financial progression, scrapping a set return rate system and taking other actions to sketch international financial investment.

Lee Myung Bak Trip To Myanmar

Photos@AP

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