Basescu urges S. Korean firms to invest in Romania's energy sector

SEOUL, Sept. 11 (Yonhap) -- Romanian President Traian Basescu urged South Korean companies on Thursday to invest in the eastern European country, singling out its energy sector as the most promising field for cooperation.

Basescu, in a speech to business organizations on the second day of his visit to
South Korea, noted that Romania -- which joined the European Union in January
2007 -- has improved conditions for foreign investment.

"I expect South Korean companies to invest in energy as well as
manufacturing, making both South Korea and Romania grow together," Basescu
said through a translator.

Earlier in the day, Basescu held a summit with South Korean President Lee
Myung-bak. At the meeting, both sides agreed to strengthen cooperation in
Romania's fields of energy, information technology and nuclear power plants.

South Korean companies are looking to participate into Romania's planned
construction of a Liquefied Natural Gas (LNG) terminal to handle Middle East
imports.

Trade stood at US$930 million last year between South Korea and Romania,
according to South Korean government data.