President Moon Jae-in held talks with his Laotian counterpart Bounnhang Vorachith on Thursday to discuss concrete ways to advance their bilateral relations.
During their summit in Vientiane Thursday, the two leaders agreed to join hands and create a community where both countries can mutually grow.
This will be done by developing agricultural communities and improving Laos' economy as well as its people's lives. through infrastructure projects along the Mekong River.
Korea and Laos will also enhance their partnership with numerous MOUs.
Korea will provide funding of 500-million U.S. dollars to Laos through the Economic Development Cooperation Fund between 2020 and 2023.
Seoul and Vientiane will also step up exchanges in farming technology, ICT, and startups.
Citing the country's abundant resources and its great potential for growth as the 'battery of Asia', President Moon highlighted the unlimited potential the country has for economic advancement.
Riding on such potential, the South Korean President is optimistic that the two countries can achieve mutual growth, combining Korea's 'New Southern Policy' and Laos' development strategy
And President Vorachith praised President Moon's ongoing efforts to achieve complete denuclearization and lasting peace on the Korean Peninsula.
Moon thanked Laos for its consistent support in his peace roadmap for the Korean Peninsula.
The two countries will also work to strengthen ties between Korea and ASEAN, as well as between Korea and the wider Mekong Delta region.
This will happen while they continue to cooperate closely on the upcoming South Korea-ASEAN special summit and South Korea-Mekong Summit, hosted by Korea this November.
"With this trip to Laos, President Moon completes his ASEAN diplomacy. His visit to seven ASEAN nations secured more than 130 projects, ranging from agriculture to the fourth industrial revolution. The Blue House says it will work to accelerate those projects to make concrete results. Park Hee-jun, Arirang News, Vientiane."