The president arrived on a visit to the Republic of Korea

President Georgi Parvanov arrived on a three-day state visit to Republic of Korea at the invitation of President and Myun-Bak. The head of state was accompanied by his wife Zorka Parvanova. Tomorrow in the capital Seoul will be held official talks of President Parvanov and the Korean head of state. In their presence will be signed bilateral documents in the field of culture and education, social security and protection of classified information. Previously, President Parvanov will visit the shipyard and plant of Hyundai cars in the city of Ulsan. On 27 October Georgi Parvanov will meet with Chairman of the National Assembly of South Korea Kim Hyong-o. He will participate in a working lunch organized by the four major Korean business associations – the Korea Federation of Small Businesses, Federation of Korean Industry, the Korea International Trade Association and the Korea Chamber of Commerce and Industry. President Parvanov will be awarded the honorary title of Doctor Honoris Causa of the University of International Studies Hankuk. Bulgaria and the Republic of Korea established diplomatic relations on March 23, 1990 trade exchange between both countries in 2008 was 156.8 million dollars. For the period 1996-2008, the Korean direct investment in Bulgaria amounted to 80.9 million. By the end of 2001 South Korea was the largest Asian investor in Bulgaria. Among the major investors in Korean companies are us „Hyundai Heavy Industries, which invested 3.9 million dollars in the plant for power transformers Elprom Trafo“ and „Hyundai Motor Company, whose official representative“ Industrial Commerce in 2008 found in Bulgaria’s largest distribution-sales service center of „Hyundai“ in the EU. South Korea has the second fastest growing economy in the world from 1960 to 1990, but because of the „economic miracle“, which is experienced as a „Miracle of Han River and one of the four Asian Tigers. Today the volume of Economy Republic of Korea, 12 in the world. The country’s GDP for 2008 is 857.5 billion dollars, while per capita – 19 231 dollars. South Korea is the largest producer of ships in the world production car „Hyundai“ is ranked fifth in the sector, the fourth – in digital electronics. Samsung and LG are among the top three for the manufacturers of televisions and mobile phones in the world. The country’s fourth largest importer of crude oil and the largest Asian exporter of refined petroleum products. After the visit to Korea by President Georgi Parvanov will make a state visit to Australia at the invitation of Governor-General Ms Quentin Bryce. Visit from 28 to 31 October will be the first to the Bulgarian head of state in this country. The delegation visits the President to have the Minister of Economy, Energy and Tourism Traicho Traykov, the ministers of culture, labor and social policy – and Eyebrows Rashidov Totyu Mladenov, Plamen Nouneva MP, Chief of Cabinet of the Prime Minister – Rumyana Bachvarova, Deputy Ministers of foreign affairs and economy, energy and tourism – Marin Raikov and Evgeni Angelov, chairman of the State Commission on Information Security Tsveta Markova, Executive Director of the Bulgarian Investment Agency Stoyan Stalev, chairman of the BCCI Tzvetan Simeonov, mayors of Pernik and Shumen – Rosica Yanakieva and Krasimir Kostov.

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