(ForUm) - President Viktor Yushchenko and his Korean counterpart Roh Moo-hyun today agreed to strengthen bilateral ties in the area of aerospace technology, the Korea Herald reports.
The South Korean Science Technology Ministry inked an accord with the National Space Agency of Ukraine outlining joint efforts to develop and exchange aerospace information, reports Trend.
The latest technological agreement follows the 1992 science technology treaty under which Korea and Ukraine formed a government-run science technology panel.
They now plan to form a new joint committee of experts to begin discussions on detailed ways to cooperate.
In return for its technological know-how, Kiev hopes to induce Seoul to invest in various infrastructure projects ranging from energy to information technology, construction and tourism.
Seoul is currently reviewing an offer to participate in a state-run project developing crude oil, titanium and other energy mineral resources in Ukraine.
Ukraine has been a leader in aerospace technology since Soviet times. About one-third of the Soviet Union's space technology is believed to have originated in Ukraine's research facilities. It currently boasts aerospace agreements with more than a dozen countries and accounts for almost 8 percent of the global commercial satellite market.
Yushchenko is there for a two-day official visit that marks the second time a Ukrainian president has visited South Korea since the two countries established diplomatic ties in 1992.