Yonhap reported that South Korea and Panama agreed to step up cooperation on infrastructure construction and natural resources development, Seoul's presidential office said after a summit between the leaders of the two sides.

President Lee Myung-bak told his Panamanian counterpart, Ricardo Martinelli, that South Korea hopes to strengthen cooperation with Panama, which is an important country to serve as an advanced base for South Korea's closer ties with Central and South American nations.

(Sourced from Yonhap)