First visit by a Bolivian president

Bolivian President Evo Morales will visit Korea next week for talks on “substantial ways” to cooperate on trade and the development of energy resources, especially the much-coveted lithium, Korea’s presidential office announced yesterday.

Morales is scheduled to make an official visit to Korea from Aug. 25-27 “at the invitation of President Lee Myung-bak,” the Blue House said in a press release. It will mark the first visit by a Bolivian president since the nations established diplomatic ties in 1965.

In their summit on Thursday, the leaders will have “in-depth discussions on ways to engage in substantial cooperation in various fields including political affairs, trade, development and energy,” the release said.

In particular, Lee plans to ask Morales to support Korean companies’ efforts to take part in Bolivia’s development of lithium and other mineral resources.

Bolivia holds the world’s largest untapped lithium reserves. Lithium is used in rechargeable batteries for laptop computers, mobile phones and electric cars.

Government sources said the two sides are expected to sign a deal to develop lithium in Bolivia during the upcoming trip. During his stay here, Morales also plans to meet Korean business leaders. Yonhap