Kuwait and South Korea on Saturday signed two accords on oil and economic and technical cooperation during an official visit by South Korean Prime Minister Lee Hae-Chan. The two national oil corporations, Kuwait Petroleum Corp and S-Oil Corp, also signed a commercial oil agreement, the official KUNA news agency said, without giving details. Lee, who arrived in Kuwait Friday on a three-day visit, held talks with Kuwaiti counterpart Sheikh Sabah Al-Ahmad Al-Sabah on ways to boost economic relations. The Korean premier is on a 12-day tour to five Gulf nations, the Korean embassy in Kuwait said. He has already visited the United Arab Emirates and plans to travel on to Qatar, Saudi Arabia and Oman. South Korea imports 78 percent of its oil needs and about half of its natural gas requirements from the Mideast, the embassy said. South Korean construction and oil companies are also engaged in multi-billion-dollar contracts in the Gulf region.
