South Korean president arrives in DR Congo

South Korean President Lee Myung-Bak arrived here Thursday from South Africa on a 24-hour state visit to Democratic Republic of Congo (DRC), leading a high-powered delegation expected to sign several trade deals. Lee, accompanied by 170 ministers, corporate representatives and investors, was greeted on arrival by Prime Minister Adolphe Muzito. He was due to confer with his DRC counterpart Joseph Kabila on prospects for boosting trade and investments, authorities said. South Korean business executives and investors were meanwhile due to huddle with members of the Federation of Congolese firms. Several investment deals are expected to be signed in the fields of agriculture, transports and energy. And the Korean National Oil Corporation (KNOC), which is keen to exploit DRC oil, is to sign a joint feasibility study with its DRC counterpart COHYDRO. Seoul also plans to invest in infrastructure projects, including a deep-water port in Banana, in the country's west, in exchange for gas and oil. South Korea is also investing nine million dollars in a farm project in Kwenge in western DRC and is involved in a partnership with Kinshasa University's research institute to produce improved seeds adapted to the local environment and to enhance farming techniques. Lee's visit returns those by the DRC president and prime minister in March and November last year. The South Korean leader flew in from Durban where he witnessed Wednesday's victory of the South Korean alpine resort of Pyeongchang in the contest to host the 2018 Winter Olympics. His next stop on his African tour will be the Ethiopian capital, Addis-Ababa.