ISLAMABAD: Prime Minister Mr Chung Hongwon concluded on Tuesday his visit to Pakistan – the first-ever by a South Korean premier – hoping that his trip would usher in a new phase in bilateral ties.

Talking to President Mamnoon Hussain, Mr Hongwon hoped that “high-level interaction will provide new impetus to the existing strong partnership between Pakistan and South Korea”.Mr Hussain said the government was offering incentives to foreign investors and invited South Korean companies to invest in energy, infrastructure, railways and telecommunications sectors.

He said the bilateral relationship needed to be transformed into “a substantive trade and economic partnership”.

The president hoped that Prime Minister Hongwon’s visit would help in deepening ties between the two countries.

During his four-day stay, he met Prime Minister Nawaz Sharif and President Mamnoon Hussain, besides a meeting with members of the Board of Investment.

A number of memoranda of understanding aimed at intensifying cooperation in trade, industries and energy sectors were signed during the visit.

Although Mr Hongwon’s position in South Korean hierarchy is ceremonial, officials insisted that the visit signified President Park Geun-hye’s desire to strengthen relations with Pakistan as it is a major regional ally of China.

President Park has been placing special emphasis on improving ties with Beijing. Discussions during Mr Hongwon’s visit focused on promoting bilateral trade.