1. A delegation of the Republic of Korea (lawmakers Park Young-sun (special envoy) and Jo Seoung-lae) attended the inauguration of President of Ecuador Lenin Moreno, held at the National Assembly of Ecuador on May 24.

* Eighteen countries, including the ROK, the US, Japan, China, Mexico, Argentina, Chile, Peru, Paraguay, and Bolivia, sent their delegations to the inauguration.

2. On May 25, the delegation paid a courtesy call on President Moreno and delivered a letter from President Moon Jae-in to him. The delegation also asked for President Moreno’s interest and cooperation to further increase trade and investment between the two countries.

o In the courtesy call, special envoy Park said that President Moon has personal ties to Ecuador, as he visited the country as a special envoy ten years ago, and delivered donations following the earthquake in Ecuador last year. Special envoy Park also said that President Moon hopes that the new governments in the two countries, launched around the same time, will further strengthen the friendly and cooperative relations between the two countries.

o President Moreno said that he is well aware that the ROK is a creative and innovative country, and that he wants to visit the ROK again in his capacity as President, though he already visited the country seven years ago. President Moreno also expressed hope that President Moon will visit Ecuador at an appropriate time.

o Special envoy Park stressed the need to swiftly conclude the ROK-Ecuador Strategic Economic Cooperation Agreement (SECA) in order to facilitate trade and investment between the two countries, which have complementary economic structures. Special envoy Park also asked for President Moreno’s interest in helping more Korean companies to participate in Ecuador’s major national projects, including a project to construct an oil refinery on Ecuador's Pacific coast.

3. On May 24, the delegation also had a meeting with Koreans in Ecuador and representatives from Korean companies there, and explained the new ROK government’s key policy directions and was told about difficulties facing them in Ecuador.


* unofficial translation