1. Foreign Minister Kim Sung-Hwan met with his Nicaraguan counterpart Samuel Santos Lopez, who is 
visiting Korea for the 4th High Level Forum on Aid Effectiveness, at Bexco, Busan, on November 30.

2. In view of the need to further deepen cooperative relations between the two countries on the occasion 
of their 50th diplomatic anniversary in 2012, the two Ministers exchanged views on ways to increase 
high-level exchanges; promote development cooperation with Nicaragua by sharing Korea’s development 
experience; boost economic and trade cooperation, such as by allowing more Korean companies to enter 
the Nicaraguan market, with the Nicaraguan side agreeing to take keen interest in and support such bids 
of Korean companies. The two sides also concurred on the importance of peace and stability for national 
development, and to work more closely on the international stage.

3. Following the meeting, the two Ministers signed the bilateral Arrangement Concerning a Loan from 
the Economic Development Cooperation Fund for the National Sustainable Electrification and Renewable 
Energy Program (PNESER). The Arrangement is expected to contribute to increasing electricity supply in 
the country as well as cooperation between the governments as well as businesses of the two countries 
in the electricity sector.

                     Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation