The UAE President Sheikh Khalifa bin Zayed Al Nahyan held talks here on Wednesday afternoon with the visiting resident Lee Myung-bak of South Korea . During the talks , Sheikh Khalifa stressed the desire of the UAE to expand its co-operation with the Korean side, especially in the economic and technological fields. The UAE President said that relations between the UAE and Korea were based on mutual understanding and always sought further development, through the implementation of bilateral agreements and through the carrying out of strategic development projects, as well as through increasing the volume of bilateral investment. For his part, the Korean President praised the great achievements of the UAE under the wise leadership of President Sheikh Khalifa, which, he said, had enabled the country to enjoy a prestigious position on both regional and international levels. During their talks, the two leaders discussed bilateral relations, existing co-operation and ways of strengthening it and the latest international developments.