The President of the Republic of Korea Lee Myung-bak will visit New Zealand on 3 and 4 March, Prime Minister John Key announced today.

"South Korea is an important bilateral and regional partner for New Zealand. Our longstanding relationship is built on strong political, economic and social links," Mr Key said.

"South Korea is New Zealand's sixth biggest export market and two-way trade was valued at about $2.42 billion in the year to June 2008.

"The visit provides an opportunity to discuss and sharpen the economic links between our two countries."

During the visit President Lee will meet with Governor-General Anand Satyanand and hold a summit meeting with the Prime Minister in Auckland.

He will also lay a wreath at the Auckland War Memorial and speak at a New Zealand-Korea Economic Forum.

The forum will discuss the growing synergies between the business communities in both countries.