S.Korea signs deal with Laos to develop iron, copper

South Korea said on Thursday that it had signed agreements with Laos to develop resources including iron ore, copper and rare metals, and to cooperate on power generation in the Southeast Asian country.

"Only 30 percent of Laos has been explored for resources. It has good potential for mineral development," said the ministry of knowledge economy. "South Korea, which has grown into one of the world's top 10 economies from one of the poorest, will share its economic growth experience with Laos."

Asia's No.4 economy, heavily dependent on energy and resource imports, said on Wednesday it would lift output of energy and resources via abroad projects by 2019.

Facing tough competition for energy resources from China and India, South Korea said it would provide economic growth experience to its overseas partners.

Reuters

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