1. Representative Lee Sang-deuk, who visited Ecuador with the aim to help Korean firms participate in 
the country’s energy, resources and plant projects, met with President Rafael Correa Delgado on June 14. 
In the meeting, the two sides discussed ways to promote friendly and cooperative ties between Korea and 
Ecuador in various fields, including energy and resources development, plant construction and 
establishment of communications and road infrastructure.

2. During the meeting, stressing that Korea and Ecuador, due to their numerous common interests, 
have the potential to bolster substantive cooperation in a mutually beneficial and complementary 
manner, President Correa voiced willingness to strengthen bilateral cooperation in economy, trade, 
investment and various other fields.

ο The President, in particular, hailed Korean firms’ active participation of late, such as that of SK E&C in 
the renovation of Esmeraldas Refinery. He expressed his expectation for Korean businesses to take a 
larger role down the road in energy and resources development and other industries strategically 
essential for Ecuador’s national development. 

3. Rep. Lee also had separate meetings with Wilson Pastor, Minister of Non-renewable Natural 
Resources, and Miguel Calahorrano, Minister of Electricity and Renewable Energy, in efforts to 
support Korean enterprises’ bid to take part in projects pursued by the Ecuadorian government, 
such as the construction of Pacific Refinery, a wind-power plant complex in Loja and a solar plant 
in Galapagos, and the revamp of Esmeraldas Refinery.

4. Rep. Lee’s latest visit to Ecuador is seen to have laid out specific ways for cooperation on projects 
currently pushed by the Ecuadorian side, thereby helping Korean firms take a meaningful step forward
in their bidding efforts.

ο During the meeting between Rep. Lee and Minister of Non-renewable Natural Resources Pastor, a 
letter of agreement on strategic cooperation in the minerals sector was signed between Korea Resources 
Corporation and Ecuador’s state-run minerals company.

5. On his visit to Ecuador, Rep. Lee was accompanied by relevant officials from the Ministry of Foreign 
Affairs and Trade and the Ministry of Knowledge Economy as well as high-ranking executives of both 
public enterprises, such as the Export-Import Bank, Korea National Oil Corporation, Korea Resources 
Corporation and Korea Expressway Corporation, and private firms like SK Energy and SK E&C. 

                      Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation